Potomac — The County Council on Tuesday, July 28, unanimously established a County Renters' Property Tax Relief Supplement for residents who qualify for a payment from the state "Renters' Tax Credit Program.”
The state payment to renters is modeled after the Homeowners' Tax Credit — referred to as the "Circuit Breaker" — and is based on the premise that a portion of rent paid by renters is attributable to property tax paid by the owner of the property. The purpose of the state payment is to return some of that money to renters in the same way it is returned to homeowners through the Circuit Breaker payment.
Eligibility for the county supplement would be tied to eligibility for the state payment. The county supplement would be 50 percent of the state payment, which is capped at $750. Renters will have until Sept. 1 each year to apply for the credit.
The tax credit is available to eligible renters at least 60 years old; those who are permanently and totally disabled; or those under the age of 60 with a gross income below the poverty threshold, at least one dependent under the age of 18 living in the household and who are not receiving federal or state housing subsidies or residing in public housing.
See http://tinyurl.com/p5fjs4y.