Income Tax Offset Credit (ITOC)
The Montgomery County Income Tax Offset Credit (ITOC) is a property tax credit applied against the county real property tax on owner-occupied residential properties, designed to offset increases in county income tax revenues resulting from a county income tax rate above 2.6%. It appears as 'County Property Tax Credit' on tax bills, and the credit amount is established by County Council resolution. Offered by Montgomery County Department of Finance; applications due May 1, 2027.
Key Facts
- Funder
- Montgomery County Department of Finance
- Award amount
- Not specified by funder
- Deadline
- May 1, 2027
- Geography
- Maryland
- Status
- Open
About This Grant
The Montgomery County Income Tax Offset Credit (ITOC) is a property tax credit applied against the county real property tax on owner-occupied residential properties, designed to offset increases in county income tax revenues resulting from a county income tax rate above 2.6%. It appears as 'County Property Tax Credit' on tax bills, and the credit amount is established by County Council resolution. The credit was $692 in Levy Year 2025, but the County Council voted to reduce the ITOC to $0 for...
Full requirements and application instructions: official listing.
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