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Maryland Assessments Rise for Seventh Year in a Row

by Tom Branham, Washington D.C., January 2020

 

Maryland property tax assessments are up 8.9% with the latest triennial revaluation. The overall assessments are just below the 9.1% average increase reported in 2018.

 

The state reassesses about a third of its 2 million property accounts each year. Once again, commercial properties are seeing a bigger increase than residential.

 

Double-digit Increases

 

Most counties in the Group 2 reassessment reported sizeable commercial value increases:

 

 

Carol (4.7%)

 

Harford (5.2%)

 

Baltimore City (9.9%)

 

Baltimore (12%)

 

Prince George (13.1%)

 

Howard (14%)

 

Montgomery (16.5%)

 

Anne Arundel (17.2%)

 

Wicomico (21.7%)

 

Last year, commercial property assessments in Wicomico County also rose the most, by an average of 30.9%. Officials said the high assessment increases can be attributed to the region’s major property sales, which ranged from apartment complexes, hotels and assisted living facilities to car dealerships and restaurants.

 

Values Will Change with Appeals

 

The newly released assessments were based on an evaluation of more than 73,000 sales that occurred within Group 2 properties over the last three years. If the reassessment resulted in a property value adjustment, any increase will be phased in equally over the next three years.

 

Many business property owners are expected to appeal their assessment. A successful appeal will decrease the assessment by the full amount for the 2020 tax year.