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Property Tax Credit for Elderly Individuals and for Military Retirees

On March 7, 2017, the Montgomery County Council passed Bill 42-16, which will provide a property tax credit for residents who are over 65 years of age and who either have lived in their home for at least 40 consecutive years, or are retired from one of the United States' armed forces (a Military Retiree). This bill will provide a 20% credit on County property taxes, for owner-occupied homes for which at least one of the owners meet the eligibility requirements noted above. The credit is granted for 5 consecutive years, and the credit is not available after that 5-year period.

The tax credit is only available to property owners that are at least 65 years of age and have lived in the same home for at least 40 consecutive years, if the dwelling has an assessment of $650,000 or less, at the time of the application for the credit. If the dwelling is assessed at more than $650,000, then the property is not an eligible property, and no credit will be granted.

The tax credit is only available to property owners that are at least 65 years of age and are military retirees, if the dwelling has an assessment of $500,000 or less, at the time of the application for the credit. If the dwelling is assessed at more than $500,000, then the property is not an eligible property, and no credit will be granted. An application must be submitted each year by April 1, before the tax year that begins on July 1 of the same calendar year. Owners that received the credit in the previous year will have an application specifically for applicants applying for years 2-5 automatically mailed to them in February. The applications can also be printed by clicking on the "Property Tax Credit for Elderly Individual for Military Retirees" link below.

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