BERLIN – State property value reassessments announced this week revealed significant increases across Maryland but in Worcester County, the changes were even more pronounced.
The State Department of Assessment and Taxation (SDAT) this week announced the results of the triennial reassessment of residential and commercial properties across Maryland and the news was generally good, depending on one’s perspective. Each year, about one third of residential and commercial properties around the state are reassessed and assigned new values, which are used to determine property tax liabilities.
For property owners, the reassessments can either be good news or bad news depending on one’s situation. Higher reassessments could mean higher property tax liabilities, but also means one’s home or business is increasing in value. For local governments, higher assessments mean more revenue dumped into local coffers that can ease strained budgets or provide more funds for essential services.
This year, using the geographic formula that divides Worcester County into three relatively equal parts, all of the residential and commercial properties in Group 2 were reassessed. Group 2 includes much of the south end of the county including Snow Hill and Pocomoke along with outposts such as Stockton and Girdletree, for example. In order to make the reassessment areas fairly equal, Group 2 also includes areas in West Ocean City and South Point, for example, on the south end of Route 611, and some commercial properties in Berlin.
Statewide, residential properties reassessed across Maryland saw their values increase by an average of 22%. In Worcester, the increases values in residential properties were even more pronounced, coming in at an average of around 35%. In neighboring Wicomico County, the average increase in residential property reassessments was around 30%. Surprisingly, topping the state residential property reassessment value was Garrett County in western Maryland, which saw its average residential property values increase by around 54%.
WHAAAAAAAAT?
Here it comes. West coast liberal tax hikes coming our way.
Like I said last week the triad of greed!
#1 bankers
#2 realtors
#3 home and land appraisers
Then these politicians throw in Covid and say nothing increased during that time. These people in office now are the biggest bunch of communist f#$%^ing crooks there ever was.
Bet those folks in The Pines, are really proud now!