Maryland HB1308 modifies the eligibility and calculation for homeowners' property tax credit.

Maryland HB1308 alters the eligibility and calculation of the homeowners' property tax credit. It specifies that the credit is the total real property tax of a dwelling, less a percentage of the homeowner's combined income. The credit is not granted to homeowners with a combined net worth exceeding $320,000 or combined gross income over $95,000. The Department must notify the Comptroller of homeowners who failed to claim the credit the previous year. The bill takes effect June 1, 2026.

Maryland HB1308 modifies the eligibility and calculation for homeowners' property tax credit.

Maryland HB1308 alters the eligibility and calculation of the homeowners' property tax credit. It specifies that the credit is the total real property tax of a dwelling, less a percentage of the homeowner's combined income. The credit is not granted to homeowners with a combined net worth exceeding $320,000 or combined gross income over $95,000. The Department must notify the Comptroller of homeowners who failed to claim the credit the previous year. The bill takes effect June 1, 2026.