Maryland Homestead Exemption

Just a reminder that even though you may already hold this exemption on your property, you must reapply for the exemption when you receive your most current tax assesment. Most of you already have for this year. Included with your assesment this year was the application. If you have not reapplied and do not have the application, you can call 1-866-650-8783 and request a duplicate. Better take care of this. Faliure to do so could mean a big increase in your property taxes.

Slumdog Millionaire

Caught the movie the other night at the AFI Silver. Really is a best picture candidate. "Milk" is a powerful film with an incredible job done by Penn but Slumdog is just enthralling. Best is that you get to see it in the Silver's main theater. Lets face it, even a crappy movie looks pretty good when you are seeing it in the "big house".

New tax credit for first time buyers

If you are a first time homebuyer then the new stimulus bill has a great little gem for you. In cluded in the bill is a provision for an $8,000 tax credit for 1st time homebuyers (defined as not owning a home the last three years just like the current provision) but it is a pure credit. There is language about possible repayment in first three years if sold. This bill has yet to be signed by the president but it is expected that he will do so shortly.

As far as I can tell this is a real tax credit, so you can in effect knock you taxes down by this figure in the year that you purchase your home. As always, you should check with your accountant to make sure how this provision will apply to you.