MD tax appraisals

[DannyMotorcycle]

Anyone familiar with property values vs what the state appraises them at? Are they generally higher on the market, the same, or under?

 

[kom526]

Anyone familiar with property values vs what the state appraises them at? Are they generally higher on the market, the same, or under?

I think the county assesses much higher than market value. My place (in 2006) assessed for $879k which was $200k what the market would allow. Through depreciation it has come down some, but still way over market.

 

[Goldenhawk]

We refinanced two rental properties this spring. Both got private bank-required appraisals at nearly exactly what we expected for the market. Our tax assessment is somewhat below the private and market appraisals, but we made some improvements that may not be calculated in yet. In my general experience in this area, the tax appraisals are not that far off.

 

[officeguy]

In my experience the assessed values are 20-30% below market value. They just make it up on the mill rate.

 

[Gilligan]

My property has been assessed both above and below market value over the years. At the moment it's about even. I successfully protested the state assessment some years back, when it was too far above market value at the time.

 

[NorthBeachPerso]

I think the county assesses much higher than market value. My place (in 2006) assessed for $879k which was $200k what the market would allow. Through depreciation it has come down some, but still way over market.

2006 was almost the top of the market. If what happened in Calvert held where you are you would have gotten that plus probably more. People were going bat #### crazy.

My experience only, assessments are in the ballpark compared to sales price again now.

 

[glhs837]

Yep, mine has been a bit below to a bit above over the years, usually not too much.