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Neighborhood Stabilization Credit

If you live in the Hillendale, Northbrook, Pelham Woods, or Taylor/Dartmouth areas of Baltimore County, you may qualify for this credit. Credits for homes purchased in Baltimore County must have been applied for by December 31, 2005; therefore, Tax Year 2015 is the last year a taxpayer may qualify for this tax credit.

After certification by Baltimore County, you may claim an income tax credit equal to the property tax credit granted by Baltimore County. Enter the amount on line 1 of Part L of Form 502CR and attached a copy of the certification.

The credit is based on a property tax credit allowed by  Baltimore County over a ten-year period. The credit can be claimed in any tax year a property tax credit was allowed.

The property tax credit is a percentage of the property taxes paid each year on the home. The income tax credit is equal to 100% of the property tax credit allowed during the tax year.

Years after purchase Percentage deductible each year
1 to 5 40%
6 35%
7 30%
8 25%
9 20%
10 15%
11 and over 0%

If the credit exceeds your tax liability, the unused credit may be refunded.

 



 
Links for Tax Credits and Deductions
General Information
Tax Credits and Deductions
  College Savings Plans Deductions
  Poverty Level Credit
  Preservation and Conservation Easement Credit
  Income Taxes Paid to Other States Credit
  Heritage Structure Rehabilitation Tax Credit
  Solar Energy Grant Subtraction
  Tax Subtraction for Two-Income Families
  Determine Tax Credits and Deductions
  Long-Term Care Insurance Credit
  Quality Teacher Incentive Credit
  Earned Income Tax Credit
  Aquaculture Oyster Float Credit
  Child or Dependent Care Expenses
  Neighborhood Stabilization Credit
  Child and Dependent Care Tax Credit
  Hurricane Tax Relief
 
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