Real Estate Exam Question: Transfer Of Title

Q: Maryland's Homestead Tax Credit:

Limits assessment increases to 10% or less annually. The Homestead Credit limits annual assessment increases to 10% or less for owner-occupied residences.

Transfer Of TitleTaxes

Maryland's Homestead Tax Credit:

Does not exist

Limits assessment increases to 10% or less annually

Eliminates property taxes

Only for commercial property

Explanation

The Homestead Credit limits annual assessment increases to 10% or less for owner-occupied residences.

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