Alert
Close

Last chance – give now. Before 2014 ends, help struggling seniors. Donate

Highlights

Close

You and Your Town Contest-You could win an AARP RealPad

Contests and
Sweeps

$10,000 Winter Escapes Sweepstakes

Beat the cold and cozy up to a chance of winning $10,000! See official rules.

Driver Safety

Piggy bank on the road - AARP Driver Safety

Take the new AARP Smart Driver Course!

AARP Books

Visit the Money Section

Enjoy titles on retirement, Social Security, and becoming debt-free.

Jobs You Might Like

most popular
articles

Viewed

Maryland

Get a Property Tax Break

Maryland program offers help for low-income homeowners and renters

Anyone meeting the requirements receives the credit. To calculate the amount of the credit, the state uses a formula based on the amount that the property tax exceeds a percentage of the homeowner's income.

For instance, the tax limit is $420 for a property owner whose combined household income is $16,000. If the actual tax bill was $990, the owner would get a credit of $570.

Last year roughly 51,000 homeowners received an average credit of $1,213.

The state reimburses counties and Baltimore city for the property taxes they do not receive because of the program. Last year, the state reimbursements totaled $62 million.

Homeowners must apply for the credit annually; the state mails applications to anyone who received the credit the previous year.

Renters' tax credit

Although Maryland has lower property taxes compared with many other states, Davis said the program is vital for many older people who want to maintain their lifestyle even though their incomes may have dropped when they retired.

"They would not be in their own homes if it was not for the circuit breaker," he said.

The state also offers assistance to low-income renters who meet certain requirements. Renters can receive a check of up to $750, based on the ratio between rent and income. Last year, nearly 8,200 renters, most of whom were 60 or older, received an average of $300.

David Baumann is a writer living in Annapolis, Md.

Also of interest: The credit card payoff calculator. »

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Video Extra

Learn how to volunteer with AARP’s Tax-Aide program.

Tell Us WhatYou Think

Please leave your comment below.

The Cheap Life

Jeff Yeager Cheap Life Ultimate Cheapskate AARP YouTube web series save money

Catch the latest episode of The Cheap Life starring Jeff Yeager, AARP's Ultimate Cheapskate. Watch

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

Life insurance: you are covered rain or shine

Exclusive annuities for members from AARP Lifetime Income Program from New York Life.

AARP Credit card from Chase

Members can get cash back rewards on purchases with the AARP® Credit Card from Chase.

Homeowners Insurance
Member Benefits

Join or renew today! AARP members receive exclusive member benefits & affect social change.

Rewards for Good

Your Points Balance:

Learn More

Earn points for completing free online activities designed to enrich your life.

Find more ways to earn points

Redeem your points to save on merchandise, travel, and more.

Find more ways to redeem points

Advance your skills. Transform your career.

Explore your learning possibilities.