Maryland requires all homeowners to submit a onetime application to establish eligibility for the Homestead Tax Credit. You may file this application online at onestop.md.After you complete Form. 502B, enter your total exemption amount on your Maryland return in Part C of the Exemptions section. Be at least 65 years of age. To be eligible, you must meet the following criteria: 1. Age 65 and over, AND 2. This program gives you a property tax exemption (tax break) that can help you lower your property tax bill. This credit is for seniors 70 and over who have owned property in Caroline County for 15 years. You can download the senior credit form from our site.