America's Property Tax Advisor

Maryland Commercial Values Rise

BY MARC BRAGIN, WASHINGTON D.C., JANUARY 2022

With the latest triennial reassessment, commercial property values increased in 22 counties and Baltimore City, according to the Maryland Department of Assessments and Taxation (SDAT). The overall statewide increase for Group 1 properties was 12% over the past three years (9.7% for commercial properties and 12.7% for residential properties).

 

The value increases are a good indicator that the market remains strong, and growth is steady here in Maryland, said SDAT Director Michael Higgs.

 

The percent change for commercial properties compared to January 1, 2019, varied based on location.

 

ARROW UP

 

16.2% Prince George’s

ARROW UP

 

11.3% Baltimore County

ARROW UP

 

10.1% Montgomery

ARROW UP  

5.7% Howard

ARROW UP  

3.3% Baltimore City

ARROW UP

 

2.9% Anne Arundel

 

If the reassessment resulted in a property value being adjusted, any increase in value will be phased-in equally over the next three years. Any decrease in value will be fully implemented for the July 1, 2022, tax bill.

 

Property values rise and fall to reflect the market. Owners should file an appeal when the estimated value of their property does not accurately reflect what they believe to be its current market value.