The Prince George’s County Council unanimously passed a bill Tuesday that would give some of the Maryland county’s older residents a 20% property tax credit.
According to the legislation, residents 65 years old or older who have lived in their home for at least the last 10 years can apply for the credit.
The resident’s home must have an assessed value of $500,000 or less. Its maximum value will rise every year to account for inflation.
Residents can take advantage of the property tax credit for five years as long as they remain eligible. The credit will be available starting in July 2023.
Click here to read the rest of the article written by Michelle Basch over at WTOP
