Maryland's Best Kept Tax Credit Secret for homeowners that make less than $60,000 a year!!

Maryland 's Income Based Tax Credit am caps a homeowner's property tax bill when the taxes exceed a fixed percentage of income. On a purchase, if your buyer's household income is less than $60,000 a year, then Advantage can have the state fund a portion of the prorated taxes at settlement and lower the property tax bill*. Buyers and existing homeowners can save over $7,000 a year. The program is perfect for First Time Home Buyers, Fixed/ Moderate/ Low Income Families, & the Self Employed. They can expect tremendous tax savings on Over-Assessed Homes, Short Sales, REO Purchases, and Highly Taxed Jurisdictions.

The most exciting feature of the Maryland Homeowners Tax Credit is that the benefits can be offered prior to purchasing the home! Advantage will work with your buyer to lower their closing costs and help them qualify for a loan!

What are the state and county tax caps*?

Income of $60,000 = $4380 tax bill Income of $50,000 = $3480 tax bill Income of $40,000 = $2580 tax bill Income of $30,000 = $1680 tax bill Income of $20,000 = $780 tax bill Income of $10,000 = $80 tax bill Income less then $8,000 = $0 tax bill

* does not apply to tax from local municipalities, towns, sewer, special assessment, etc.

What are the requirements?

1. Household adjusted gross income of less than $60,000 (excluding non-owner occupants)
2. Net worth of less than $200,000 (excluding equity in property)
3. Only for principle residence
4. Only covers first $300,000 of assessment value
5. Does not cover municipality/ town tax or special assessments

What does an existing homeowner need in order to qualify for this credit ?

1. Advantage Designated Representative Form
2. Copy of Current Tax Return
3. 30 day lead time for state to process
4. Copy of Ratified Contract (For Buyers)

How much does the service cost?

$99 or 10% of total savings and $175 annual renewal fee.