With property reassessments going out last month for much of Worcester County, property owners might be wondering what their options are if they disagree with the values the county assessment office has calculated. Assessments are normally received every three years, and your reassessment notice shows the old market value as well as the new market value. The new value reflects the current market influences, any additions or changes to structures on the property, along with any other conditions that may be affecting the property’s value since the time of its last assessment.
Appeals may be filed on three occasions:
- Appeal on Reassessment (upon receipt of an assessment notice, which is normally every three years);
- Petition for review; and,
- Appeal Upon Purchase (upon purchase of property between January 1 and June 30)
If you decide to appeal, the first step is to file your appeal either online, or by replying to the Notice of Assessment by signing and returning the appeal form. Appeals must be filed within 45 days of the notice date. Depending on the volume of appeals for the jurisdiction in which the appeal is filed, every attempt is made to complete all reassessment appeals by June 1.
At the time of purchase, real estate contracts in Maryland disclose to buyers a “Property Tax Notice” disclosure that a buyer has a 60 day right of appeal to dispute the taxable assessed value. The paragraph in the contract of sale states: “If any real property is transferred after January 1 and before the beginning of the next taxable year to a new owner, the new owner may submit a written appeal as to a value or classification on or before 60 days after the date of the transfer.” To clarify, “the beginning of the next taxable year” is by June 30th.
Property owners have the right to three different options when appealing: personal hearing, phone hearing, or written appeal. Appeals made in writing eliminate the need to attend a scheduled hearing or to call in by phone (MDAT attempts to prioritize appeals made in writing).
Property owners who live in their home as the primary residence should remember to file for the Homestead Tax Credit. This credit is granted to owner occupied residential properties for annual assessment increases over a certain percentage. If eligible, the bill reflects this credit, but if you look up your property and don’t see the notation of Homestead on it, you should file for this option to help prevent large increases in your property tax.
Lauren Bunting is a Broker with Keller Williams Realty of Delmarva in Ocean City, Maryland.
