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Legislation Reduces Property Taxes for Eligible Prince George’s County Seniors by 20%
The Prince George’s County Council, during session on Tuesday, June 28, 2022, unanimously enacted CB-29-2022, legislation proposed 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 10 years, are eligible for a 5-year, 20% Property Tax Credit. The limit on the property’s value is $500,000, indexed upward annually by 3% for normal inflation. The Property Tax Credit will remain in place for a period of up to five years.
Council Chair Calvin S. Hawkins, II, says CB-029-2022 lightens a financial burden for the County’s senior residents, especially for 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, which makes 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.”
District 8 Council Member Edward Burroughs, III, sponsor of the legislation, says the tax credit will provide senior residents with much-needed relief.
“I have had several opportunities to speak with our seniors, and many have expressed that our property taxes are just too high. 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 some financial relief in a challenging economy. I am grateful to my Council colleagues, and countless residents who voiced their support for this important measure.”