Deadline Approaching for Property Owners to Apply for $692 Tax Credit

Montgomery County’s Income Tax Offset Credit (ITOC) program grants County residents who live in the property they own a $692 credit.

Councilmember Natali Fani-González urges residents to apply before the May 1 deadline.

The State law has changed. To receive the ITOC, residential property owners must now have a Homestead Tax Credit (HTC) on file with the Maryland State Department of Assessments and Taxation (SDAT) before May 1, 2023. If a property owner received the credit and does not apply before this deadline, they will be billed $692 and will not receive the tax credit until the State processes their application. Once the application is on file, it will automatically apply to future years, according to the Montgomery County Department of Finance.

To apply and get more information, click here. 

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