More Topics:
Informational Hearing on Property Tax Reassessments
Posted January 22, 2012
We Recommend...
Baltimore, MD - Councilman Carl Stokes will introduce Council Resolution 12-0104 - requesting an Information Hearing on Property Tax Reassessments on Monday, January 23, 2012. Councilman Stokes will invite representatives from the State Department of Assessments and Taxation?s Baltimore City office to appear before the Council to discuss the process by which properties in Baltimore were reassessed for tax purposes and to explain what rights homeowners have if they believe these assessments are not correct. So far, the measure will be co-sponsored by Council Members Mary Pat Clarke, Bill Henry, William "Pete" Welch and James B. Kraft.
According to Maryland law all properties are required to be reassessed at their "current market value" once every 3 years. From 2008 until now 91% of residential properties saw a decline in value with the average property value dropping by 17%. Given the current state of the economy, declining assessments in the housing market can hardly be deemed a surprise. Yet, many homeowners are confused about exactly how the state arrived at the particular value of their home.
„This informational hearing will allow an opportunity for my colleagues and me to gain a greater understanding of the assessment process and how residential properties are reassessed every three years", said Councilman Carl Stokes. "State Department of Assessments and Taxation?s (SDAT?s) computation methods may differ from those used by other evaluators, leaving owners feeling that the State?s number is either too high or too low. In order to address these types of concerns, SDAT will explain for us their 3 step appeal process for citizens who contest their assessments within 45 days. SDAT also has published a "Property Owner's Bill of Rights" that lays out 19 rights that all Maryland property owners have under the property tax laws", he said.
"My office has been inundated with letters, calls and emails urging me to follow-up on the process by which properties are reassessed for tax purposes. I have spoken with numerous residential and commercial property owners who have raised these concerns asking me to have an Informational Hearing on Property Tax Reassessments".
blog comments powered by