Tax Credit

We usually don't think about high utility bills and taxes while the weather is comfortable and cool. But summer is exactly the time to think about energy efficiency, and now's the time to act. Replacing inefficient windows and doors, heating and cooling equipment and insulation can decrease energy bills and make a home more comfortable. With the federal tax credits and utility company energy rebates, the benefits go beyond lower utility bills. A tax credit is a dollar-for-dollar reduction in what you owe in federal taxes.

The West Virginia Senate unanimously passed a bill Tuesday that would provide a subsidy for the MARC commuter train service in the Eastern Panhandle. Senate Bill 103, which proposes the creation of the West Virginia Commuter Rail Access Act, passed by a 33-0 vote. State Sen. Craig Blair, R-Berkeley, was absent, according to the roll call for the bill. The legislation would provide a mechanism for the state to give CSX Transportation a tax credit for not billing the Maryland-run commuter rail service for its use of the railroad's tracks in West Virginia.

The Washington County Department of Social Services is assisting in a promotional campaign called “Your Money. You Earned It. Now Claim It!” to encourage eligible Washington County residents to claim their earned income credit and child tax credit that is available to working families and can give them up to $5,891 on their 2012 tax returns.  This year's campaign consists of posting fliers and brochures in strategic locations, including the...

A local lawmaker wants to give tax breaks to businesses that allow their employees to work from home. Del. Sue Hecht, D-Frederick/Washington, is proposing a telework tax credit of up to $10,000 per business. "This is good for traffic issues we all know are difficult in Maryland. It's good for our environment. It's good for families because they can choose to stay home and work," Hecht told the House Ways and Means Committee on Wednesday. Hecht initially wanted to give tax breaks to employees as well as the employers who allow them to telework.

MARTINSBURG, W.Va. - The prospects of a tight budget given the state of the economy haven't stopped Eastern Panhandle lawmakers from renewing long-standing efforts to get financial help for teachers and seniors in the first session of the 79th Legislature. A bill that would allow newly hired teachers for "critical-needs areas" to claim a tax credit was reintroduced Monday, albeit with a new number - Senate Bill 265 - and four new sponsors. "The important thing is to keep the issue on the front burner," said Sen. John R. Unger II, who is the bill's lead sponsor this year.

By BRENDAN KIRBY Staff Writer More than 600 Washington County volunteer firefighters and rescue workers will owe a little less on their Maryland tax bill this year, thanks to a new state program designed to reward their volunteer work. The Maryland tax credit, signed into law in May 1995, allows fire and rescue volunteers with at least six years of service to qualify for a $3,000 Tax Modification Credit on their state taxes, according to Jay Grimes, president of the Washington County Fire and Rescue Association.

laurae@herald-mail.com With the help of a state tax credit for renovating historic buildings, Julie and Brent Stinar were able to restore a farmhouse next to Antietam National Battlefield to its Civil War glory. But this year the Maryland General Assembly is considering reducing or eliminating the tax credit because of the state's budget problems. Advocates of the tax credit, which allows developers or homeowners to get a 20 percent refund on the cost of a renovation project, converged in Annapolis on Wednesday to try to save the program.

The Washington County Commissioners Tuesday approved a three-year property tax credit for the 28-acre land parcel where the new YMCA is to be built. The 100 percent property tax break is for the 1999-2000, 2000-2001 and 2001-2002 fiscal years. The fiscal year begins July 1. The property tax credit for this fiscal year for the property on Eastern Boulevard is $7,830.90, according to the county resolution. The YMCA receives state and county property tax credits at its current building, County Administrator Rodney Shoop said.

ANNAPOLIS - Now is the time to apply for tax relief under the state's homeowners' property tax credit program, and new legislation expanding eligibility limits means more homeowners can take advantage it. Rising property taxes have proved to be a lightning rod issue this year in the Maryland General Assembly as well as in local jurisdictions across the state. Nearly 100 tax relief bills were filed this year, and legislators heard hours of testimony from Marylanders, particularly those who were elderly or on fixed incomes, who feared having to give up their homes because they said they could no longer afford the taxes.

WASHINGTON COUNTY With less than two weeks left to file income tax returns, local, state and federal agencies are stepping up efforts to get more people to claim the state and federal Earned Income Credit. The Washington County Department of Social Services recently launched a $16,237 ad campaign to make local families more aware of the Earned Income Credit (EIC), said David Engle, the agency's director. "A lot of people don't know about the program," said Sharon Shafer, a supervisor at the department of social services.

A bill that would provide support for the operation of MARC commuter train service in the Eastern Panhandle passed Saturday by a 98-1 vote in the House of Delegates on the last day of the West Virginia Legislature's 60-day session. The state Senate later concurred with amendments the House made to Senate Bill 103, which now awaits consideration by Gov. Earl Ray Tomblin, according to an audio webcast streamed live on the Legislature's website. The bill creates a special fund in the state treasury and requires the state to negotiate agreements with Maryland or the Maryland Transit Administration for the continued operation of the service from Washington, D.C., into West Virginia.

The West Virginia Senate unanimously passed a bill Tuesday that would provide a subsidy for the MARC commuter train service in the Eastern Panhandle. Senate Bill 103, which proposes the creation of the West Virginia Commuter Rail Access Act, passed by a 33-0 vote. State Sen. Craig Blair, R-Berkeley, was absent, according to the roll call for the bill. The legislation would provide a mechanism for the state to give CSX Transportation a tax credit for not billing the Maryland-run commuter rail service for its use of the railroad's tracks in West Virginia.

The Washington County Department of Social Services is assisting in a promotional campaign called “Your Money. You Earned It. Now Claim It!” to encourage eligible Washington County residents to claim their earned income credit and child tax credit that is available to working families and can give them up to $5,891 on their 2012 tax returns.  This year's campaign consists of posting fliers and brochures in strategic locations, including the...

Federal tax credits are being sought to build 40 rental units in Waynesboro and renovate existing apartments in the Mount Vernon Terrace complex. The Franklin County (Pa.) Housing Authority this week asked the Waynesboro Borough Council for a letter of support as it submits an application to the Pennsylvania Housing Finance Agency. If approved for credits, the housing authority would try to sell the credits to local banks and use the equity for construction, renovation and related costs.

A stimulus program started by Washington County in 2011 to attract new jobs and investment is being modified to include municipalities and better explain how those taking part in the program can take advantage of deferred county fees and get real estate tax credit. Originally called the Pad-Ready Site Commercial Property Stimulus Program, the effort will now be called the “Commercial Property Stimulus Program” and will allow locations in the City of Hagerstown and other municipalities in the county to be part of the program.

Some county homeowners 65 and older will see additional property-tax relief under a change approved Tuesday by the Washington County Board of  Commissioners. The commissioners voted to change the county's Senior Citizen Supplemental Homeowners' Property Tax Credit so many seniors will get more of a credit. The credit effectively caps the amount of county property tax owed based on income, providing a credit for county property taxes owed above that amount. Under the new formula, the cap will be set at an amount equal to 0 percent of the first $15,000 of combined income, 5 percent of the next $1,000 of combined income and 9 percent of combined income over $16,000.

A 55,555 square-foot, three-story office building under construction at Fountainhead Plaza near Hagerstown is expected to be completed by December, developer Asad Ghattas said Tuesday after a groundbreaking ceremony. At the ceremony, Washington County officials recognized the Fountainhead One Professional Offices project as one of the first to take advantage of two county incentive programs, a “pad-ready” stimulus program and a “green building” tax credit for high-performance commercial buildings.

Editor's note : This is another in a series of Eastern Panhandle candidate previews that The Herald-Mail will be running over the next several months. The announcements also will be posted on our website, www.herald-mail.com, through the West Virginia primary on May 8. To submit announcements, email them and a color photo (preferably a jpeg) to billk@herald-mail.com or matthew.umstead@herald-mail.com . Any questions? Call 301-791-7281. West Virginia State Sen. Herb Snyder is seeking to retain his 16th District seat.

Working in conjunction with Washington County, Hagerstown officials want to renew and expand enterprise zones in and around the city to promote business and offer tax breaks for new construction and rehabilitation projects. The zones also provide eligibility for income tax credits for job creation in several types of businesses, including manufacturing, warehouses, research and development, corporate or regional offices and service industries. Mercantile and retail businesses also are included, but only in the city center.

The center of what once was the Martin's Food Market at Fountainhead Plaza sat empty for more than three years before it was demolished this winter to make way for a new free-standing office building that could open by the end of this year. The space could have continued in its boarded-up status for another year if it weren't for two new incentive programs that Washington County approved in recent months, said Asad Ghattas, who owns Fountainhead Plaza north of Hagerstown. Those incentive programs are for the creation of “pad-ready” sites for commercial and industrial uses and a tax credit for high performance or “green” commercial buildings, said Ghattas, who also is president and owner of Ghattas Enterprises, the real estate development company handling the project.