In response to the 9% property tax increase approved in Montgomery County's 2025 budget, the county is offering a Real Estate Tax Deferral Program to assist eligible homeowners facing financial hardship. This program allows qualifying residents to postpone payment of the increased tax amount until a later date, providing relief during challenging economic times.
🗝️ Program Eligibility:
To qualify for the Real Estate Tax Deferral Program, applicants must meet the following criteria:
Age Requirement: Homeowners must be at least 65 years of age by December 31 of the year in which the application is made. (Source)
Income Limit: Household income must not exceed $35,000 annually, including 50% of Social Security income. (Source)
Residency Requirement: Applicants must have owned and occupied the qualifying property for at least the last 12 months.
This criteria aim to assist senior homeowners who may be on a fixed income and are experiencing difficulty managing increased property tax obligations.
🗝️ Deferral Details:
The program permits homeowners to defer the increase in their real estate taxes over the base year. For instance, if a homeowner's tax bill increased by $35 in the current year compared to the base year, that $35 can be deferred. It's important to note that the deferral applies only to the increase in taxes, not the entire tax bill.
Additionally, the county does not charge an administrative fee or interest for participating in the deferral program, making it a cost-effective option for eligible homeowners seeking financial relief.
🗝️ Application Process:
Homeowners interested in applying for the Real Estate Tax Deferral Program should contact the Montgomery County Finance Department for the most current application forms and detailed instructions. Applications must be submitted annually, and approval is contingent upon meeting the eligibility requirements and the county's assessment of the applicant's financial situation.
🗝️ County Support:
Montgomery County officials emphasize that the Real Estate Tax Deferral Program is part of the county's broader efforts to support residents during times of financial strain. By offering this program, the county aims to ensure that senior homeowners can remain in their homes without the added stress of increased property taxes.
For more information or to apply, residents are encouraged to visit the Montgomery County Finance Department's official website or contact the department directly.
Montgomery County Adopts 2025 Budget with Property Tax Increase
