Habitat for Humanity of Worcester County has $44,000 in Community Investment Tax Credits awarded by the Department of Housing and Community Development. The allocations of state tax credits are used as incentives to attract contributions and leverage up to $100,000 in donations from individuals and businesses which will go directly towards costs associated with our upcoming Jefferson Street Project in Berlin, Md. (The Project will be a compact, mixed-use development offering (2) 2-story, 3 Bedroom affordable housing apartments, and (2) retail/gallery units on the ground floor.)
Businesses and individuals that donate can qualify to earn tax credits equal to 50 percent of the value of their contribution. These tax credits are in addition to the deductions on both Federal and State taxes as a result of the charitable contribution. The tax credits are deducted directly from taxes owed.
This program allows you to leverage contributions to Habitat for Humanity of Worcester County by using the dollars they would have spent Maryland taxes to increase their contribution.
The minimum donation required is $1,000. Donations in excess of $2500 will have individual or business names engraved on a plaque to be located on the outside of the Jefferson Street building acknowledging contributions.
Individuals and businesses must use the tax credits against taxes owed for the year in which the contribution is made, for up to 5 years total, but may not be used retroactively for taxes from a prior year.
For more information on how you can help the community AND benefit from these tax credits, visit the following website:
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