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BUSINESS
By Steve Kilar and The Baltimore Sun | September 26, 2012
The deadline to apply for a property tax credit that, on average, cuts more than $1,000 off a homeowner's tax bill, has been extended until the end of October. Maryland residents can apply for the Homeowners' Property Tax Credit through October 31, said Robert E. Young, director of the state Department of Assessments and Taxation. The agency has extended the deadline from Sept. 1. Application numbers have jumped in recent years, as people's jobs or overtime income has vanished, and Young said he didn't want the newly eligible to miss out. “We administratively can extend the program until October the 31 st ,” he said.
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NEWS
Luke Broadwater and The Baltimore Sun | October 1, 2014
Mayor Stephanie Rawlings-Blake says she is throwing her support behind City Councilman William "Pete" Welch's bill calling for a large tax break for urban farmers in Baltimore. In legislation pending in a City Council committee, Welch is seeking a 90 percent break on property taxes for urban farmers who grow and sell at least $5,000 of fruit and vegetables a year. The credits, which must be approved by the city's Cffice of Sustainability, are good for five years, but can be renewed for a total of 10 years, according to the bill.
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NEWS
March 25, 2010
Businesses can receive a $5,000 tax credit for each out-of-work Marylander hired this year, under a plan nearing final approval in the General Assembly. Gov. Martin O'Malley pushed the tax credit as a way to stimulate hiring at a time when the state faces a 7.5 percent unemployment rate - the worst in a quarter-century. Lawmakers increased the credit from the $3,000 O'Malley proposed. The House of Delegates approved the Senate's legislation Wednesday, but the two chambers must agree upon slight changes added by the House.
NEWS
By William E. Lori | September 28, 2014
This weekend over 700 people were scheduled to attend our 6th annual Archdiocese of Baltimore Gala to raise money for students who otherwise could not afford to attend a Catholic school in the Archdiocese. Since its inception, the gala has raised more than $4.2 million in tuition assistance and endowment for Catholic schools. The gala is just one way the archdiocese is helping children from low-income families benefit from a Catholic school education. Another is the Partners in Excellence (PIE)
BUSINESS
By Steve Kilar and The Baltimore Sun | October 11, 2012
Mayor Stephanie Rawlings-Blake intends to introduce legislation to the Baltimore City Council that would provide a 15-year tax break to apartment developments in downtown. The mayor announced the news at the annual meeting of the Downtown Partnership on Oct. 4. “The Mayor's office, Finance Department and Downtown Partnership developed a targeted 15-year tax credit program for newly-constructed and conversion residential projects in downtown,” Rawlings-Blake told the crowd near the end of her speech.
NEWS
July 5, 2013
In a year when the city is claiming that property tax rates have been reduced, the reduction that many property owners are enjoying is in historic tax credits based on expensive capital property improvements. This weekend, approximately 1,500 cards from the city Department of Finance arrived with first-class postage across the city notifying recipients of "some changes in the Historic Tax Credit (CHAP Credit) given by Baltimore City for qualifying properties. " The upshot of the "changes" is that the "credit has been reduced from the prior year due to an incorrect calculation.
BUSINESS
November 17, 2009
A $400 tax credit provided by the economic stimulus plan may leave more than 15.4 million Americans owing money to the IRS because of under-withholding from their paychecks, an inspector general report said. The IRS said the number will be far lower. The Treasury inspector general for tax administration said many employers advanced more than the $400-per-individual tax credit. Workers will have to return the difference when they file tax returns, and some might have to pay penalties. - Bloomberg News
EXPLORE
October 4, 2012
The proposed Universal Design Tax Credit Bill does a disservice to Howard County taxpayers. The bill would give tax credits to property owners for 50 percent of the costs of increasing accessibility of their homes, for example, by expanding doorways or installing handrails in their bathrooms. The goal of increasing accessibility is laudable. However, the writing of the bill does not require that the homeowners need these renovations, or even require that they need financial assistance.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 7, 2011
The state's biotech tax credits drew more than 180 applications within three minutes of the window opening for the $8 million available this fiscal year, the Maryland Department of Business and Economic Development said Thursday. The credits go to investors pumping money into fledgling Maryland biotechnology firms in need of capital. The credits will be handed out on a first-come, first-served basis to those that qualify — thus the rush. Initial credit certifications will be issued within 30 calendar days, DBED said.
EXPLORE
June 1, 2011
After reading a number of recent articles and letters regarding the solar energy property tax credit, I thought it would be helpful to provide a historical perspective. The current credit of 50 percent of the cost of a qualified system, up to a maximum of $5,000, was enacted by the County Council in 2006. The positive impact on the solar-energy industry was immediate. Solar installations in the county skyrocketed by more than 500 percent the following year, new companies sprang up in and around the county, and hundreds of new jobs were created.
NEWS
By Luke Broadwater and The Baltimore Sun | September 22, 2014
The City Council gave final approval Monday to a plan to offer up to $5,000 in tax credits to homeowners who move to new homes but choose to remain in the city. The Resident Retention Tax Credits - which will were approved unanimously by the council - are intended to help residents who lose their Homestead tax credits when they switch homes. The program was pushed at the state level by Del. Maggie McIntosh, a Baltimore Democrat. Her bill allowed city homeowners to transfer a portion of the Homestead tax credit from their old building to a new property.
NEWS
July 28, 2014
It didn't take Democrats much time to denounce Rep. Paul Ryan's latest plan for addressing poverty in this country. The main feature of the Republican's proposed "Opportunity Grant" would be to roll a lot of social welfare programs together and leave it mostly to states to decide how the money is spent, which sounds a great deal like the block grant proposals of the past. Critics included Maryland's own Rep. Chris Van Hollen, ranking member on the House Budget Committee, who said the former vice presidential nominee has used the mantra of "reform" as a cover to cut safety-net programs.
BUSINESS
By Luke Broadwater, The Baltimore Sun | July 17, 2014
The Baltimore City Council passed a bill Thursday backed by Mayor Stephanie Rawlings-Blake to make 10 years of tax credits available citywide for developers of apartments. The council amended the legislation to include developers who renovate apartments as well as those who build new structures. "Expansion of the current apartment tax credit program continues to move us in the right direction by encouraging investment that supports neighborhoods, promotes historic preservation and generates millions of additional dollars for the city," Rawlings-Blake said in a statement.
BUSINESS
By Natalie Sherman, The Baltimore Sun | July 2, 2014
The state has approved bigger tax breaks for industrial properties in Southeast Baltimore, including the site of a new Amazon warehouse. Designed to spur job creation, the benefits took effect Tuesday. The new "focus areas" provide property owners with a 10-year, 80 percent property tax credit on value added by physical improvements. They also boost the credits granted for wages paid to new employees and offer breaks for investments in "personal property," such as machinery. The benefits apply to about 2.4 square miles around Holabird Avenue and about 7.4 square miles in Orangeville, excluding the residential area.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | July 1, 2014
More than 100 applicants are vying for $12 million worth of Maryland tax credits available to biotechnology investors in fiscal 2015, state economic development officials said. Applications for the Biotechnology Investment Incentive Tax Credit program were submitted online Tuesday to the state Department of Business and Economic Development. The program, first funded in fiscal 2007, has spurred investment of more than $120 million in 70 biotech firms, state officials said. Some Baltimore area companies that received investments last year include American Gene Technologies International, Animalgesic Laboratories, Cerecor Inc., Clear Guide Medical and Diagnostic Biochips.
NEWS
By Danae King, The Baltimore Sun | June 30, 2014
Maryland joins at least a dozen other states Tuesday in banning the sale of 190-proof grain alcohol, a measure that lawmakers hope will help to reduce sexual assaults and binge drinking among college students. The bill is one of more than 200 that go into effect Tuesday; other bills expand the earned income tax credit for low-income residents and exempt more wealthy Marylanders from the estate tax, overhaul Baltimore City liquor board practices and establish incentives to encourage investment in research universities.
BUSINESS
By Natalie Sherman, The Baltimore Sun | April 25, 2014
Property owners could be able to apply for most city tax credits through an online system by the end of the year, a set-up designed to improve the accuracy of a process that has been troubled by errors, officials said Friday. The online system went live Friday for developers of large apartment buildings, said William Voorhees, the city's director of revenue and tax analysis. He said he expects it to open to applications for the historic properties tax credit this summer and most others by the end of the year.
NEWS
Erin Cox and The Baltimore Sun | April 2, 2013
Lawmakers approved $25 million in tax credits for the film industry Tuesday, expanding and extending a program that was set to expire in 2014. Tuesday's vote sends to Gov. Martin O'Malley a bill that increases subsidies to film companies by $17.5 million over this year. O'Malley proposed the increased tax credit, along with credits for biotechnology and cyber security industries. Since the credits were first approved in 2011, they have gone to several projects including the popular Netflix series "House of Cards" that stars Kevin Spacey and was filmed in Baltimore.
NEWS
By Yvonne Wenger, The Baltimore Sun | June 23, 2014
Developers are set to receive tax credits designed to spur the construction of new apartments and homes in Baltimore under legislation the City Council approved Monday. The tax credits, which received no opposition from the council, are part of a plan by Mayor Stephanie Rawlings-Blake to keep families in Baltimore and attract new residents to the city. "We look at different trends in the market that help us to determine what credits might put the city in the best position to be competitive," said Kevin R. Harris, a spokesman for Rawlings-Blake.
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