Unless you live IN the Chesapeake Bay, you can not fail to notice the decline in value of property in Maryland due to the state of the economy.
The sagging housing market doesn't necessarily mean Maryland homeowners will see a decline in their annual property tax bills.
More than 700,000 Marylanders will receive new property assessments later this week. And state and county officials say virtually all of those will be paying higher taxes in 2009.
That's because tax collectors have not yet accounted for the huge decreases in assessed values from earlier in the decade. ARE YOU KIDDING?
So, to put this in prospective, in some situations, the taxman says that your tax assessed value will be considerably higher than the ACTUAL market value of your home!