What you need to know about Maryland real estate assessments

If you own real estate in Maryland, your property is reassessed every three years. That triennial reassessment divides the state into thirds and staggers the reassessment of real estate. This means one third of all real estate in Maryland is reassessed every year.

When your property is reassessed, you have the opportunity to appeal the results. The rub? Any reduction in assessed value will affect all three tax years of your triennial reassessment period. However, even if you missed that short appeal window when your property is reassessed you still have the ability each year to appeal your assessment, in what is known as an out-of-cycle appeal, or petition for review.

Depending on when your property was reassessed that out-of-cycle appeal may affect one or even two years remaining in the tax cycle. The deadline for out-of-cycle appeals is December 31^st of the tax year in question. Wondering if you should appeal? Ping me – we’re ready to help NOW.