Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Tax topic
No spam. Unsubscribe anytime.
Committee moves to keep homestead property tax credit at 103% for FY2026
Summary
The committee recommended favorable action on CB75-2024 to set the homestead property tax credit at 103% for the taxable year beginning July 1, 2025 (FY2026). Staff and budget analysts said the rate remains unchanged from the current year and the fiscal impact is neutral.
The Government Operations & Fiscal Policy Committee voted to recommend favorably on CB75-2024, which sets the homestead property tax credit percentage at 103% for the taxable year beginning July 1, 2025 (fiscal year 2026).
Staff explained the county is required by the Annotated Code of Maryland, Tax-Property Article §9-105(e) to determine the homestead property tax credit percentage each year. Office of Management and Budget staff said recent CPI changes support setting the percentage at 103%, the same rate in effect for the prior year. An analyst from the Office of Budget and Policy Analysis said the bill should have a neutral fiscal effect for the county for FY2026.
There were no committee questions; the committee moved favorable on the bill and approved the recommendation on a roll call vote.
