The Maryland Department of Housing and Community Development administers a State of Maryland tax credit for residents of the state who have renovated a home to be more accessible. The tax credit may be up to 50% of the cost of the renovation up to $5,000, whether it’s your own home, the home of a family member, or a rental property. To claim this credit, the renovations must have taken place during the prior tax year, and you must demonstrate the costs incurred with receipts, invoices, before and after pictures, etc. Any approved accessibility features will be considered in the calculation for the tax credit amount.
After you have completed your renovation, you must take the following steps to claim your tax credit:
DHCD can approve no more than $1,000,000 of tax credits under this program per calendar year. The total approved amount of your tax credit may be reduced if total demand for tax credits statewide exceeds $1,000,000.
In order to be eligible for the Independent Living Tax Credit you must:
The Department of Housing and Community Development seeks to be flexible and accommodating to those who are seeking the Independent Living Tax Credit. Any renovations that will assist a person in their home can qualify for a tax credit. Some examples of accessibility features include, but are not limited to