Maryland Assessment Procedure Manual

Category:Valuation
Category No.:014
Subject:Appraisal Technique
Subject No.:062
Topic:Tenant Improvements
Topic No.:10
Date Issued:3/20/1989
Revision Date:6/1/1990

​A tenant improvement, including the interior finish of an existing structure as well as the erection of a complete building upon leased land, is not to be considered a leasehold. Such improvements are assessable and taxable to the fee owner of the property. (Code of Maryland Regulations, Title 18, Subtitle 02, Real Property Assessments, Chapter 1.01A).​​