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Commissioners direct staff to craft single senior property tax credit option, ask for cost scenarios
Summary
After a staff presentation on three existing senior property-tax credits, the Board of Commissioners directed staff to develop a single consolidated senior tax-credit ordinance and return with options and fiscal impacts (including $60k vs $80k income thresholds and a possible $500k assessed-value cap).
St. Mary's County finance and legal staff presented an inventory of three separate senior property-tax credits on March 4 and the commissioners gave direction to consolidate them into a single senior tax-credit program and return with options and cost estimates.
Jalen Hauser summarized the three credits: (1) the county’s Senior Matching Tax Credit that supplements the state Homeowners Tax Credit (matching payments to county taxpayers; staff estimated annual outlays around $221,000), (2) a “cap” tax credit that freezes a qualifying homeowner’s property-tax…
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