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New property tax break for elderly homeowners in Prince George's Co.
A new tax incentive for elderly property owners in Prince George’s County just went into effect and gives elderly homeowners a 20% property tax break. FOX 5’s Tisha Lewis has more from Oxon Hill.
OXON HILL, Md. - A new tax incentive for elderly property owners in Prince George’s County just went into effect.
It’s called the Elderly Property Tax Credit, and it gives older homeowners a 20% property tax break. It also provides up to a 20% credit on county property taxes, which is inclusive of the county portion of the homeowner's, and homestead credits.
The new initiative began July 1 and calls for at least one of the homeowners to be 65 years old or older and have lived in the home for at least ten consecutive years. The assessed value of the home must be $500,000 or less.
Prince George's County Councilmember Edward Burroughs said the county wanted to make the application process as simple as possible.
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"The application is literally one page," he told FOX 5. "You can apply online or by paper copy, whichever you prefer. If you want our offices to walk you through the application, we can also do that as well."
It’s a one-page application that asks for general information about yourself and your property. The county wants to get the word out about this, but so far, 8,000 people have applied.
"I think it's a good thing," said B.J. Norris, an Oxon Hill resident. "I think the people in the county definitely need it right now … The senior citizens definitely need a break because they're on fixed income."
"I think that's a very good thing to do," said M. Hernandez, another Oxon Hill resident. "Elderly people, some of them can't work or take care of things for themselves. So, I think that's pretty good."
Applications must be received by October 1.