Laws & Taxes

Laws & Taxes

Delaney Votes Against Legislation to Repeal the Estate Tax

Congressman John K. Delaney (MD-6) voted against H.R. 1105, legislation that repeals the federal estate tax. According to the non-partisan Congressional Budget Office, the legislation would add $269 billion to the federal deficit. Under current law, the estate tax only applies to estates worth over $5.43 million dollars, less than one quarter of one percent of the population

Delaney Statement on DOT’s Grow America Plan

Today, the Department of Transportation (DOT) announced their Grow America Act, which increases federal support for infrastructure. The DOT proposes a six-year transportation bill funded by pro-growth international tax reform, the same solution first developed by Congressman John K. Delaney (MD-6). Absent Congressional action, the Highway Trust Fund will run out of money on May 31.

Leggett FY16 Operating Budget Tightens Belt on County Spending; Property Tax Rate Cut, Solid...

County Executive Ike Leggett today released his Recommended FY16 Operating Budget of $5.1 billion for the year that begins on July 1, 2015 – a budget that increases County government tax-supported spending by only 1.1 percent while cutting the County property tax rate by about one cent. The balanced budget closes an estimated $238 million gap

Maryland Launches Online Business Personal Property Return Service

The Maryland State Department of Assessments and Taxation (SDAT) recently announced the ability for businesses and tax preparers in Maryland to submit annual business personal property returns online. The Business Personal Property Return Filing Service is the latest addition to Maryland’s Central Business Licensing and Registration Portal (CBL Portal) which was created to make it easier to conduct business in Maryland.

Leggett Encourages Low-Income and Senior Homeowners to Apply for Property Tax Credit

WASHINGTON, D.C. - April 3, 2014 - (RealEstateRama) --Montgomery County homeowners who have a limited income or are at least 70 years of age may be eligible for property tax credits that will limit the amount of taxes they must pay. One application will determine eligibility for three programs – the Maryland Homeowners’ Property Tax Credit Program; the Montgomery County Supplemental Property Tax Credit; and the Montgomery County Senior Property Tax Credit. The application deadline is September 1, 2014.

Cummings, O’Malley, and Maryland Democrats Support the Mortgage Forgiveness Tax Relief Act

Baltimore, MD - December 20, 2013 - (RealEstateRama) -- Today, Congressman Elijah E. Cummings (MD-07) was joined by Governor Martin O’Malley, and Congressmembers Steny Hoyer, Chris Van Hollen, C.A. Dutch Ruppersberger, Donna Edwards, John Sarbanes, and John Delaney on a letter to the leadership of the House Ways and Means Committee and the Senate Finance Committee expressing support for the Mortgage Forgiveness Tax Relief Act (S.1187; H.R.2788; H.R.2994). These bills would extend protections set to expire on January 1 that enable homeowners to negotiate a resolution with their lenders on their underwater mortgage loans without the threat of a large tax bill.

AG Gansler Urges Congress to Extend Tax Relief for Struggling Homeowners

Baltimore, MD - December 19, 2013 - (RealEstateRama) -- Attorney General Douglas F. Gansler, joined by 42 state and territorial attorneys general, today urged Congress to extend the Mortgage Forgiveness Tax Relief Act through at least 2014, in order to continue helping financially strapped homeowners. The Act expires on December 31 at a time when the housing market, while still fragile, has shown signs of gradual improvement over the past year

County’s New Tax Compliance Office Identifies Thousands of Accounts Mistakenly Claiming Homeowner Tax Credits;...

WASHINGTON, D.C. - November 18, 2013 - (RealEstateRama) -- The Montgomery County Department of Finance’s Tax Compliance Office issued its first quarter report on the results of its property tax compliance efforts. The report identifies nearly 5,000 accounts that should be corrected that could save the County up to $3.3 million in revenues each year

Leggett Budget Holds Line on Property Taxes at Charter Limit, Funds Schools at Maintenance...

WASHINGTON, D.C. - March 15, 2013 - (RealEstateRama) -- Montgomery County Executive Isiah Leggett today announced his recommended $4.8 billion operating budget for fiscal year (FY) 2014 that begins July 1. Leggett’s budget holds the line on property taxes at the County Charter level below the rate of inflation. His recommendation includes a tax-supported County government budget of $1.3 billion, up 3.9 percent, which is half of last year’s increase. The budget increases County spending for Montgomery County Public Schools (MCPS) to the level required by the State’s Maintenance of Effort law.

Leggett Budget Holds Line on Property Taxes at Charter Limit

WASHINGTON, D.C. - March 15, 2013 - (RealEstateRama) -- Montgomery County Executive Isiah Leggett today announced his recommended $4.8 billion operating budget for fiscal year (FY) 2014 that begins July 1. Leggett’s budget holds the line on property taxes at the County Charter level below the rate of inflation. His recommendation includes a tax-supported County government budget of $1.3 billion, up 3.9 percent, which is half of last year’s increase

Fair Housing Posters Available for Display By Rental and Real Estate Businesses; Display of...

WASHINGTON, D.C. - February 25, 2013 - (RealEstateRama) -- The Montgomery County Office of Human Rights has updated fair housing posters available in both English and Spanish for display in residential and commercial rental offices, realty offices, property management offices and lending institutions. Under Sec. 27-13 of the Montgomery County Code, these posters must be prominently displayed in these types of businesses in both English and Spanish.

Eligible County Homeowners Encouraged to Apply for Maryland’s Homestead Tax Credit by December 31

December 20, 2012 - (RealEstateRama) -- Montgomery County homeowners who are eligible for Maryland’s Homestead Property Tax Credit must submit a one-time application with the Maryland State Department of Assessments and Taxation (SDAT) by December 31 to establish eligibility. The credit limits the amount of assessment on which a homeowner actually pays taxes on their principal residence. The credit does NOT apply to rental or vacation properties.

Attorney General Doug Gansler Urges Congress to Extend Tax Relief for Distressed Homeowners

Baltimore, MD - November 20, 2012 - (RealEstateRama) -- Attorney General Douglas F. Gansler, joined by 41 other state and territorial attorneys general, today urged Congress to extend tax relief for consumers who have mortgage debt canceled or forgiven because of financial hardship or the decline in their housing values. In a letter sent to the U.S. House and Senate leaders, the Attorney General pressed them to extend the tax relief, which has been in effect since 2007 and is scheduled to expire on December 31, 2012.

Eligible Homeowners Should Apply for Property Tax Credit by May 1; Will Ensure that...

April 7, 2011 - (RealEstateRama) -- Montgomery County homeowners who have a limited income or are at least 70 years of age may be eligible for property tax credits that will limit the amount of taxes they must pay. One application will determine eligibility for three programs -- the Maryland Homeowners’ Property Tax Credit Program; the Montgomery County Supplemental Property Tax Credit; and the Montgomery County Senior Property Tax Credit.

Property Tax Relief Deadline Extended to November 1, 2010

August 12, 2010 - (RealEstateRama) -- Eligible Montgomery County residents are encouraged to apply for the Maryland Homeowner’s Property Tax Credit program, which limits the amount of property taxes a homeowner must pay based on income. An additional County supplement and a senior tax credit will automatically apply to eligible County residents. For a senior tax credit, residents must be age 70 or older. No additional application is required for either the County supplement or the senior tax credit. The deadline for the state application submission has been extended to November 1, 2010

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Federal, State and Local Housing Officials Celebrate Opening of Senior Rental...

Montgomery County Executive Isiah Leggett today took part in the ribbon cutting ceremony for The Bonifant at Silver Spring, a mixed-income 11-story apartment building with 149 units for seniors age 62 or older

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EPA Backs Maryland Plan to Improve Water Quality

The U.S. Environmental Protection Agency today announced it has approved and helped fund a $303 million plan by Maryland to implement 36 clean water projects, including a series of major improvements to control stormwater and enhance wastewater infrastructure in Baltimore