High-Performance Newly Constructed Dwellings Property Tax Credit
The High-Performance Newly Constructed Dwellings Property Tax Credit encourages the construction and purchase of new homes in Baltimore City. The program provides a 5-year property tax credit with the credit amount decreasing annually.
This program reduces your property taxes.
ELIGIBILITY & LIMITATIONS
- You must live in this home as your primary residence.
- The tax credit does not transfer between property owners.
- The tax credit is 50% in the first taxable year and decreases by 10 percentage points thereafter for 5 years.
- The property must not have been previously occupied by an owner or tenant since its new construction or substantial rehabilitation.
- If the property was a substantial rehabilitation it must have been cited as abandoned of vacant for at least one year or have been owned by the City for at least one year.
- The property can not contain more than 4 dwelling units.
- You must apply for the tax credit within 90 days of settling on the purchase of the property.
- High-Performance buildings are defined by meeting green building guidelines or standards approved by the State.
ADDITIONAL REFERENCES & RESOURCES
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