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Compared to national averages, the value provided by Maryland homestead exemption law
is one of the lowest in the county - ranked 49th. Approximately 8 states
are now capped, at the federal preemption rate, at $125,000 for the fair
market value of equity ownership in a primary residence. The State of
Maryland allows state residents to claim $5,000 exempt real estate.
Further, the Maryland Homestead Exemption Act specifically prohibits
allowing state residents to elect the federal exemptions which include a
homestead exemption in the amount of $18,750.
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