December 30, 2020

Contact:

Meghann Malone

The Maryland Department of Assessments and Taxation (SDAT) today announced its 2021

reassessment of 759,422 “Group 3” residential and commercial properties. In Maryland, there

are more than 2 million property accounts which are split into three groups, each appraised

once every three years. The overall statewide increase for “Group 3” properties was 8.1% over

the past three years according to SDAT.

The overall statewide increase was slightly lower than 2019’s 8.9% increase. This represents an

average increase in value of 7.5% for all residential properties and 9.7% for all commercial

properties since the last Group 3 reassessment in 2018.

The 2021 assessments for Group 3 properties were based on an evaluation of 67,767 sales that

occurred within the group over the last three years. If the reassessment resulted in a property

value being adjusted, any increase in value will be phased-in equally over the next three years,

while any decrease in value will be fully implemented in the 2021 tax year. For the 2021

reassessment, 86.3% of Group 3 residential properties saw an increase in property value.

“All 23 counties and Baltimore City experienced an increase in residential property values for

the third consecutive year, while commercial property values increased in 21 counties and

Baltimore City. This is a good indicator that the market remains strong and growth is steady

here in Maryland,” said SDAT Director Michael Higgs. “The Department’s real property

assessors continue to work hard work to ensure that all of Maryland’s properties are assessed

uniformly and fairly. As part of our Tax Credit Awareness Campaign, each reassessment notice

includes information about the Homeowners’ and Homestead Tax Credits, which save

Marylanders more than $260 million in taxes each year.”

The Homeowners’ Tax Credit​ provides relief for eligible homeowners by setting a limit on the

amount of property taxes that are owed based on their income. Residential property owners

who complete a one-time application and meet certain eligibility requirements can also receive a

Homestead Tax Credit​, which limits their principal residence’s taxable assessment from

increasing by more than a certain percentage each year regardless of their income level.

Although statewide legislation caps the increase at no more than 10% per year, many local

governments have capped property taxes at lower percentages.

Property tax assessment notices were mailed to Group 3 property owners on Tuesday,

December 29, 2020. A map of which properties fall into Groups 1, 2, and 3 and their respective 

years for reassessment can be viewed on SDAT’s website here. For additional statistics and

information, please visit the Department’s Statistics & Reports webpage.

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