Targeted Homeowners Tax Credit
Baltimore City’s Targeted Homeowners Tax Credit (THTC) provides owner-occupant Baltimore City residences a reduction on real property tax. The THTC is automatically calculated and applied to all properties designated as ‘Primary Residence’. 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.
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
Baltimore City Department of Finance
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