County Council extends property tax credit for elderly and military pensioners

Montgomery County Council on Tuesday unanimously approved extending a property tax credit for elderly residents and retired military personnel from five to seven years.

The tax credit applies:

  • Residents aged 65 and over who have lived in the same dwelling for at least 40 years.
  • Residents age 65 and older who served in any branch of the United States Armed Forces, Military Reserves, or National Guard. The surviving spouses of these veterans are also eligible for the credit.

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

The extension of the property tax credit from five to seven years became possible this year due to state legislation removing the mandatory five-year cap for counties.

Christine Wellons, senior county council solicitor, said at Tuesday’s meeting that around 5,000 residents will be affected by the tax credit extension.

Council President Gabe Albornoz, who introduced the extension legislation earlier this month, underscored its importance on Tuesday.

“As we know our aging population is the fastest growing demographic in the county, it’s important that these 5,000+ residents don’t miss this opportunity,” he said.

Dan Schere can be contacted at [email protected]

Penny D. Jackson