Targeted Homeowners Tax Credit

Baltimore City’s Targeted Homeowners Tax Credit (THTC) provides owner-occupant Baltimore City residences a reduction on real property tax. This property tax credit is automatically granted to every owner-occupied property that has applied for and been approved for the Homestead Property Tax Credit. Each year the City’s Department of Finance proposes a new THTC amount, which is then subtracted from the base property tax rate. In Fiscal 2020, the effective owner-occupied property tax rate is $2.048 per $100 of assessed value.

PROGRAM BENEFIT

This program reduces your property taxes.

ELIGIBILITY & LIMITATIONS

• Your home must be designated as a Primary Residence on your property tax bill in order for the THTC rate to be applied.
• Homeowners who have had their Homestead Property Tax Credit application approved by the MD State Department of Assessments and Taxation will have their Baltimore City property tax bill reflect their Primary Residence status.
• The savings calculated from the THTC will be shown on your property tax bill as a ‘Special Credit’.

ADDITIONAL REFERENCES & RESOURCES

Department of Finance: Program Summary

PROGRAM CONTACT

Baltimore City Department of Finance
Website