Maryland requires all homeowners to submit a onetime application to establish eligibility for the Homestead Tax Credit. Online: Go to Homestead Tax Credit Eligibility Application page, and complete the online form.Filing an online application will be faster than mailing one in. 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. Homestead Property Tax Credit The Homestead Property Tax Credit in Maryland limits the increase in taxable assessments each year for a primary residence. Your tax bill must indicate your property as a "principal residence" in order to be eligible for Homestead credit benefits. The dwelling for which the application is being made, must be the applicant's principal residence. County portion of the property tax bill, inclusive of any Homeowners' and Homestead Credit.
