You may have received a very important piece of mail regarding your phased in tax assessment effective July 2022 if you are part of Group 1 (to see the groups and corresponding maps, click here). The increase in the assessed property value is 12% and reflective of what we’ve seen happening in market values. However, did you apply for your Homestead Tax Credit? If so, you’re already benefiting from doing so and will receive a cap (click here to see your possible cap across various areas in MD) and therefore, you will not pay on the full amount! If you have not already applied, Maryland states that you must apply and be accepted before March 2022 if you are in Group 1. If you are in Groups 2 or 3, please don’t forget to apply as it will benefit you during your reassessments in 2023 and 2024. If you feel your assessment is incorrect, you may file an appeal prior to 2/11/22.
If you are unsure and would like us to look into the application status for you, please don’t hesitate to reach out!
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