Bowie Insider Issue #206

Maryland’s Bluest Waters, Explore Tax Relief Options for Homeowners, New Initiative to Help Maryland Entrepreneurs, Upcoming Events

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Bowie Insider
September 10, 2024

In this issue of the Bowie Insider…

📰 Who Knew About Maryland’s Bluest Waters at Rocky Gap State Park?
📰 Explore Tax Relief Options for Homeowners in Prince George’s County
📰 New Initiative to Help Maryland Entrepreneurs Thrive with $10 Million Grant
🗓️ Upcoming Events
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Today is just another day

Unless you decide to make it

Extraordinary. So

Set your goals.

Do your best to make today

Awesome and to make

Yourself proud.

— Our Mindful Life

Who Knew About Maryland’s Bluest Waters at Rocky Gap State Park?

Image Credit: MD Dept of Natural Resources (DNR)

Rocky Gap State Park, located in Allegany County Maryland, about 2.5 hours from Bowie, offers more than 3,000 acres of picturesque landscapes. The park is renowned for its stunning 243-acre Lake Habeeb, known as the "bluest water in the state," according to the Maryland Department of Natural Resources. The lake, fed by Rocky Gap Run, flows through a beautiful gorge lined with cliffs and lush hemlock forests. Visitors can also enjoy sandy swimming beaches, adding to the park's appeal.

Towering above the lake is Evitts Mountain, named after one of Allegany County’s early settlers, further enhancing the park's peaceful atmosphere. While Rocky Gap tends to be crowded on summer weekends, September offers a quieter experience with warm water temperatures. The park is open daily from 7:00am to sunset, and pets are welcome in designated areas. Visitors can extend their stay with nearby resorts, golf courses, and a casino.

Explore Tax Relief Options for Homeowners in Prince George’s County

Homeowners in Prince George’s County have access to several tax relief programs designed to ease property tax burdens. These programs offer valuable credits and exemptions, including the Homestead Tax Credit, Homeowners Tax Credit, Veterans Exemption, and the Elderly Property Tax Credit.

Homeowners in Prince George's County may qualify for various tax credits to reduce their property tax liability.

Common credits include:

- Homestead Tax Credit: Limits the annual taxable assessment increase on owner-occupied homes. For 2024, the city’s increase is capped at 5%. Homeowners must apply to the State Department of Assessments and Taxation.

- Homeowners Tax Credit: Available to homeowners with a household income up to $60,000 and net assets under $200,000. Applications are due by September 1st each year.

- Veterans Exemption: Provides a full property tax exemption for veterans certified as permanently disabled by the U.S. Department of Veterans Affairs.

- Elderly Property Tax Credit: Offers up to a 20% credit on county property taxes for seniors aged 65+ who have owned their home for at least 10 years.

For a list of available credits, visit the county website and search for "Property Tax Credits."

For more details, visit the county website.

New Initiative to Help Maryland Entrepreneurs Thrive with $10 Million Grant

Governor Wes Moore, alongside U.S. Treasury officials, announced a $10 million federal grant awarded to the Maryland Technology Development Corporation (TEDCO) to support small businesses. The grant, part of the State Small Business Credit Initiative's Investing in America Program, will establish the Business Resource Information, Development, and Guidance Ecosystem (BRIDGE) program. This initiative will provide small businesses, particularly those owned by socially and economically disadvantaged individuals, with access to crucial legal, financial, and accounting services.

Governor Moore emphasized the importance of collaboration between state and federal agencies to help small businesses thrive. U.S. Treasury Deputy Secretary Wally Adeyemo highlighted the administration's commitment to expanding opportunities for entrepreneurs. The BRIDGE program aims to enhance small business capacity and help them participate in key industries such as electric vehicles, clean energy, and semiconductor manufacturing. The initiative is part of the broader effort to boost Maryland’s competitiveness and support long-term business growth across the state.

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