Tax Assessment Notice just came

[sleuth]

Not always ... I think there was a good $70K difference in what the county says my property was worth and what it would have sold for (market value) last year.

Interesting... I wonder what the county bases its appraisal on.

 

[CMC122]

I know my monthly payment went up a few months ago because my ESCROW ran out of money. Something about an insurance and tax increase. :shrug:

It only went up about $8 a month, though.

Mine went up to but it went up $40

 

[jazz lady]

I sure hope they did my assessment before we began the addition...

I guess you don't know about the special new construction billing.

 

[sleuth]

I guess you don't know about the special new construction billing.

I heard about that. Something about being taxed double next year if you started your addition after the appraisal.

 

[jazz lady]

So what happens if you just bought your house within the past 2 years and its value has gone up by $60K over that period?

If you look at your tax assessment notice, you should see that there is a cap on how much your assessed value can go up per year. So even if it went up $60k, only a certain percentage (10% I believe) of that increased value can actually be phased in per year.

 

[jazz lady]

Also, if you don't think the new assessment is fair, you can file an appeal @ http://sdatcert1.resiusa.org/Appeals2005/ until February 15th.

 

[jazz lady]

If you look at your tax assessment notice, you should see that there is a cap on how much your assessed value can go up per year. So even if it went up $60k, only a certain percentage (10% I believe) of that increased value can actually be phased in per year.

http://www.dat.state.md.us/sdatweb/stats/05rv_pr.html

[font=Arial, Helvetica, sans-serif]Property owners will receive a redesigned assessment notice. The new notice has the taxable assessments for July 1, 2005 listed at the top. Qualified homeowners with significant increases in assessed values take advantage of locally-established assessment caps. These tax caps lessen the impact of rising assessments for homeowner occupied properties. For tax purposes, the assessment increases are capped at 7 percent per year in Carroll County, 5 percent per year in Garrett, Howard, Kent, St. Mary’s and Worcester Counties, and at 4 percent per year in Baltimore City and Baltimore County. Prince George’s County has a 3 percent per year assessment cap and Anne Arundel County has a 2 percent per year assessment cap. Talbot County continues to cap all taxable assessment increases for homeowners.

[/font]

And this:

[font=Arial, Helvetica, sans-serif]Assessment notices mailed today to 692,000 property owners throughout Maryland reflect the continued phenomenal growth in real estate values across the State for the past three years. These growth trends have created an average 46.6 percent increase in assessment values for reassessed properties statewide; this is an annual increase of 15.5% for each of the next three years. This is the largest value increase in Maryland since the beginning of triennial reassessments in 1980.

[/font]
Thank goodness for the caps!

 

[jazz lady]

Holy Crap!

I just looked up my property and it's gone up 70k in assessed value! Thank goodness St. Mary's has the 5% per year cap.

 

[fddog]

Mine went up to but it went up $40

Mine was short $345.00

 

[crabcake]

I didn't get my assessment notice. Is it done annually on every home in the county or do they do some this year, some next year, etc.?

 

[jazz lady]

I didn't get my assessment notice. Is it done annually on every home in the county or do they do some this year, some next year, etc.?

http://www.dat.state.md.us/sdatweb/19geo.html

They do a third of each county in Maryland every year. It looks like your area was done last year.

 

[sinwagon]

I try to look at it as if the taxes are going up, so is the value of the property. Pretty hard to look at it that way though!

I know what you mean about the Homeowners insurance though. When we bought our house 2-1/2 years ago the Homeowners insurance was $400 and some a year, now it is up to $700 a year!

Its just crazy!!!!!!

 

[itsbob]

Between increases in health insurance, car insurance, homeowners insurance and now a huge jump coming in my property taxes it's really getting hard to afford to live here

And don't forget about us poor souls that just moved here that had to pay TODAY's property prices..

 

[Pete]

My assesment went up $80,000

 

[sleuth]

I didn't get mine yesterday.
Maybe it'll be there today...

Not that I'm excited over the prospect.

 

[crabcake]

http://www.dat.state.md.us/sdatweb/19geo.html

They do a third of each county in Maryland every year. It looks like your area was done last year.

TY I remembered getting one last year, but didn't know how frequently they did it.

 

[sleuth]

You live in Calvert County, dumbass.

Oops. I figured the counties would all send these things out at the same time. For some reason I was thinking that property taxes were regulated by the state, not the county.

 

[crabcake]

I didn't get mine yesterday.
Maybe it'll be there today...

Not that I'm excited over the prospect.

here's your county map

 

[Wickedwrench]

Between increases in health insurance, car insurance, homeowners insurance and now a huge jump coming in my property taxes it's really getting hard to afford to live here

My property values went up $90,000. I dread to see what my house payment is going to get increased to to compensate for my lack of escrow.

Time to go wife shoppin!

 

[Wickedwrench]

Also, if you don't think the new assessment is fair, you can file an appeal @ http://sdatcert1.resiusa.org/Appeals2005/ until February 15th.

If everyone complains, we might not take such a hit.:shrug: