Title
AN ACT CONCERNING HOMESTEAD PROPERTY TAX CREDIT for the purpose of establishing the homestead property tax credit percentage for Prince George’s County at one hundred four percent (104%) for the taxable year beginning July 1, 2027; and generally regarding the homestead property tax credit.
Background
This legislation will establish the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2027, as required by State law. Based on the official Consumer Price Index (CPI) for June 2026, the Homestead Property Tax Credit needs to be set at 104% for the taxable year beginning July 1, 2027, based on the limit in Section 812(d) of the County Charter which caps growth at 105%. The Homestead Property Tax Credit was created to limit taxable assessment increases on a property owner’s principal residence.