Legislation Reduces Property Taxes for Eligible Prince George’s County Seniors by 20 percent.
The Prince George’s County Council unanimously enacted legislation sponsored by District 8 Council Member Edward Burroughs, establishing a 20 percent Property Tax Credit for eligible Prince George’s County seniors.
Under the legislation, residents 65 and older who have owned their homes for at least ten years are eligible for a five-year, 20 percent property tax credit. The limit on the property’s value is $500,000, indexed upward annually by three percent for normal inflation. The Property Tax Credit will remain in place for up to five years.
“I have had several opportunities to speak with our seniors, and many have expressed that our property taxes are just too high,” said Council Member Burroughs. “They are trying to financially balance the cost of prescription drugs, gas prices, and various other responsibilities, which in many instances is extremely difficult. This legislation will provide our seniors with financial relief in a challenging economy.”
During the 2022 legislative session, MACo successfully advocated for legislation granting counties broad flexibility in enacting property tax credits to serve and react to community needs.
Council Chair Calvin S. Hawkins, II, said the bill lightens a financial burden for the County’s older residents, especially those living on a fixed income in the current economic climate.
“Council Bill 29-2022 allows our seniors to benefit financially from a tax credit that puts extra money in their pocket, making a difference during financially challenging times. Senior residents are the pillar of our community, and we want to provide them with the support they need, so we can continue to build on the foundation they have set. This legislation brings us another step closer to that goal.”
Visit the Prince George’s County Council website for more information.