Property Ownership (alternative)
Maryland property owners who use their home as a principal residence may qualify for the:
ACommercial exemption credit
BHomestead Property Tax Credit, which limits annual assessment increases used for tax calculation✓ Correct
CZero-assessment status for 3 years
DFlat tax reduction of $2,000 annually
Explanation
The Maryland Homestead Property Tax Credit limits annual increases in the taxable assessment of owner-occupied primary residences to 10% (or a locally lower cap), protecting homeowners from rapid tax increases.
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