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August 21, 2009

One week left on 'amnesty' for city tax credit

Buying a newly constructed city home? Baltimore's new-construction tax credit will give you five years of reduced property taxes, including half off in your first year -- if you apply in time.

The city recently gave frustrated homeowners who missed the window another chance, but that amnesty period is swiftly coming to a close. The deadline is Aug. 28, next Friday. If you went to settlement on a new home after Oct. 1, 2004 and it's still your principal residence, you can apply. You might also be eligible if your home was substantially rehabbed after being vacant.

More details from the city Department of Finance, including the application form, in this PDF document.

Baltimore resident Matt Gonter, who applied last week, suggests submitting your form in person. That way you get a time-stamped copy for your records, proof that your application was in time.

Amnesty aside, new-home buyers now have two windows to apply rather than one: within 90 days of settling and within 90 days of getting the first tax assessment notice.

Posted by Jamie Smith Hopkins at 8:47 AM | | Comments (2)
Categories: Property taxes
        

Comments

"Buying a newly constructed city home?"

er uhm Jamie... how many of these critters actually exist? Or in the counties for that matter.

It ties in with the sales brewing thread when such an easily identified group are accounted for relative to the total of houses.

New-home buyers, you mean, or new homes? Builders have really slowed the pace of construction, but there are new homes out there.

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About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie
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