Gov or call 410-767-2165 toll free. The Homestead Tax Credit (HTC) limits the increase in taxable assessment each year to a fixed percentage.The Homestead Credit is designed to limit the tax liability for homeowners that experience rapidly rising assessments. This is a program put into place to help manage large assessment increases on your property taxes of your personal residence here in Maryland. This is a property tax credit authorized in State of Maryland law that insulates homeowners against large assessment increases on their principle residence. To claim the credit, you must complete Part K of Form 502CR and attach to your Maryland income tax return. Maryland requires all homeowners to submit a onetime application to establish eligibility for the Homestead Tax Credit. For further information and applications go to the Maryland Department of Assessments and Taxation. Residence: Homestead. Homestead Property Tax Credit.
