Press "Enter" to skip to content

Maryland Property Values Rise 23.4% According to Maryland Department of Assessments and Taxation’s 2024 Reassessment

The Maryland Department of Assessments and Taxation today announced its 2024 reassessment of 767,226 “Group 3” residential and commercial properties. In Maryland, there are more than two million property accounts that are split into three groups, each appraised once every three years. The overall statewide value increase for “Group 3” properties was 23.4% since its last reassessment three years ago. The overall statewide increase was higher than 2023’s 20.6% increase, representing an average increase in value of 25.6% for all residential properties and 17.6% for all commercial properties over the three-year period since the last “Group 3” reassessment for January 2021. “For six consecutive years, all 23 counties and Baltimore City have experienced an increase in residential and commercial property values, indicating that owning a home or business in Maryland continues to be a good investment,” said SDAT Director Michael Higgs. “SDAT is pleased to provide our customers with new and improved reassessment notices this year and, as part of our Tax Credit Awareness Campaign, each reassessment notice includes information about the Departments’ Homeowners’ and Homestead Tax Credits, which save Marylanders more than $260 million in taxes each year.” The 2024 assessments for “Group 3” properties were based on an […]

The post Maryland Property Values Rise 23.4% According to Maryland Department of Assessments and Taxation’s 2024 Reassessment appeared first on Southern Maryland News Net.

Source: https://smnewsnet.comNew feed

Be First to Comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *