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County Expects $14M In New Tax Revenue From Assessments

SNOW HILL – The county will see about $14 million in additional revenue related to the latest property reassessments.

Phil Thompson, the county’s finance officer, provided the Worcester County Commissioners with an update regarding property tax revenues this week. While the state released the information in late December, Thompson said it was important to consider details beyond the 46% increase the county experienced.

“It’s important to point out the percentage increase noted in the headline and through the document is the total value increase, which will either be phased in equally over a three-year period or possibly limited for those taxpayers participating in the Homestead Credit program,” Thompson said.

In late December, the Maryland State Department of Assessments and Taxation (SDAT) announced the 2024 reassessment of nearly 800,000 “Group 3” properties. Statewide, the overall value for that group of properties was up 23.4% since the last reassessment three years ago. Here in Worcester County, there was a 46.1% increase in the value of properties reassessed, which were in Ocean City.

“Effectively almost exclusively Ocean City,” Thompson said.

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5 thoughts on “County Expects $14M In New Tax Revenue From Assessments”

  1. If they expect $14M, they’ll spend $28M in new firehouses and raise taxes the following year to “balance the budget”.

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  2. That fat goofoff has done absolutely nothing good for Worcester country. Boot him out! Wicomico county should make double that amount , the way they have raised their appraisals. Unfair and driving good people out. The slumlords will keep their ghettoites who pay nothing.

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  3. Rick Pollitt has left a trail of destruction behind him everywhere he has managed to bluff his way in to. He needs to go an try getting a real job for once in his life………….you know, like WORK!

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  4. It’s also important to point out that Ocean City is only 10 miles long and adds about 10% tax to your restaurant bill should you have anything left after your new tax bill.

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