To fill out the one-time Homestead Tax Credit Application (principal residence assessment cap). The State of Maryland provides a credit for the real property tax bill for homeowners of all ages who qualify on the basis of gross household income.Maryland requires all homeowners to submit a onetime application to establish eligibility for the Homestead Tax Credit. Read this before filling out your forms! • The top state income tax rate for resident fiduciaries is 5.75 percent for tax year. Use Form MW506AE to apply for a Certificate of Full or Partial. The program provides tax credits for homeowners who qualify on the basis of their household income as compared to their tax bill. In Maryland, you can keep certain property even if you file for bankruptcy. This property is called "exempt". Forms: Affidavits for Transfer, Tax Exemptions, Sample Legal Documents, Tax Returns, Retiree Forms, Vendor Forms, Unclaimed Property Form, Tax Credits.