RECOGNIZING NEW MARYLAND PROPERTY TAX WRINKLE

As if taxes are not complicated enough, the State of Maryland has decided to make all property owners reapply for their property tax Homestead Deduction. Property owners should have already received or will be receiving their assessments for 2008. The envelope will include the standard Assessment Notice and two additional pages.

The two additional pages at first glance appear to be the standard paperwork that comes in mailers from the state. At second glance, one of the pages informs property owners that everyone must apply to "continue" receiving their Homestead Deduction. Those who have never received this must also apply to "begin" receiving the deduction. The third page is the actual application for the deduction. Property owners will have the ability to mail in the paper application or apply online at http://www.dat.state.md.us/. The deadline to file electronically is April 1, 2008.

For additional information about this tax issue, please contact Rubino & McGeehin at 301.564.3636. More information about the firm may be found at http://www.rubino.com/.