In June, the Montgomery County Council unanimously approved extending a property tax credit for elderly residents and retired military members to seven years. 

The tax credit applies to: 

  • Residents aged 65 and older who have lived in the same home for at least 40 years.1To receive this tax credit beginning July 1, 2023, your birthday must be on or before June 30, 1958. For those who are applying as 40+ year owners, your deed must be dated June 30, 1983 or earlier.   
  • Residents aged 65 and older who served in and retired from any branch of the U.S. armed forces, military reserves or National Guard. Surviving spouses of those veterans are also eligible for the credit.2 

Eligible residents receive a 20% tax credit for annual property taxes. For non-military families, the credit applies to any homeowner whose property had an assessed value of $650,000 or less the first time they applied for the credit. Military families may use the credit if their property’s assessed value is $500,000 or less.  

Application deadline is April 01, 2023 for tax credit beginning July 2023. Online applications are available now online at: 

APPLICATION_Elderly_Invididual_Retired_Military.pdf (montgomerycountymd.gov) 

If you have any questions, please call 311 or 240-777-0311 (if you are calling from outside of Montgomery County). 

1The owner who is 65 or over and who has owned and lived in the dwelling for at least 40 consecutive years must be on the deed for the property.  An owner who is 65 or over and is a military retiree must be on the deed for the property. Not all owners must be over 65, just the one that meets the requirements above. Not all owners must have owned and lived in the dwelling for at least 40 consecutive years, just the one that meets the requirements above.  

2Eligible veterans who are retired from one of the United States’ Armed Forces (Air Force, Army, Coast Guard, Marine Corps, Navy), or are retired from the uniformed services of the National Oceanic and Atmospheric Administration or the Public Health Service or are retired from the military reserves or the National Guard. To meet the Military Retiree requirement, one must be retired from one of these services. Being a veteran of a service but not actually having Retired status from that service does not meet the requirements for this tax credit.