The Homestead Exemption reduces the taxable portion of your property assessment if you own your primary residence in Philadelphia. You may file this application online at onestop.md.Maryland requires all homeowners to submit a onetime application to establish eligibility for the Homestead Tax Credit. Homestead Tax Credit More Info. If your application is already on file and approved, you DO NOT need to reapply. The mission of the Department of Community and Economic Development (DCED) is to foster opportunities for businesses to grow and for communities to succeed. The Elderly Property Tax Credit application portal will reopen on May 01, 2025, for NEW submissions for tax year July 01, 2025 - June 30, 2026 (FY2026). Application: Maryland homeowners must apply for the homestead tax credit exemption. Located north of Philadelphia, Montgomery County has property tax rates near the state average, but much higher than those in the City of Brotherly Love. Depending on your state, you can apply for your exemption online or you'll need to visit a local government office to fill out the paperwork.