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Sponsor says homestead portability and lower cap would help seniors move without losing tax protection
Summary
Delegate April Miller urged a favorable report on HB 12‑73 to lower the homestead growth cap from 10% to 5% and allow portability of a homeowner’s tax credit up to $500,000 of assessment so seniors and other homeowners can relocate without losing accumulated tax relief.
Delegate April Miller told the Ways and Means Committee House Bill 12‑73 would reduce the homestead cap from 10% to 5% and add portability allowing homeowners to carry their accumulated tax relief to a new principal residence for up to $500,000 of assessment. "By lowering it to the 5%, no Marylanders' taxable assessment will grow by that more than 5% in the single year," Miller said, framing the change as protection against volatile reassessment spikes that push seniors "into a geographic prison."
Miller said portability models exist elsewhere and cited California as an example where homestead portability has kept taxpayers from leaving the state. Committee members asked about precedents and administrative mechanics; Miller said portability will encourage mobility, open up starter homes and keep residents in Maryland.
The hearing closed with the sponsor asking for a favorable report. The committee did not take a vote.
