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Property Taxes Decrease in Maryland - Your Washington, DC Area Realtor

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Real Estate Agent with Keller Williams Preferred Properties DC: SP98364962 MD: 601648
For years mainly since we entered into the 21st Century property taxes in the state of Maryland has gone up. In many areas drastically. Taxes had been going up for over a decade but had gone mainly unnoticed when the housing market prices skyrocketed between 2001-2005. As housing prices went up during that season of an unusual market so did the property taxes. Once the housing market prices came to a halt then dipped is when many home owners really took notice. Many wondered what could they do to lower such high taxes. In many cases property taxes would cause mortgage payments to be anywhere from $100 or more higher than what would be on the good faith estimate which would be the difference whether a person could buy a home or afford the one they were in. Contesting the county and state taxes is what was required in order for a home owner to attempt to get their taxes lower. In many cases a home owner would have to put in writing that their home was worth less than what was assessed on the Tax Assessment. Along with show proof from the most recent home sales. Usually a CMA from a realtor would help. Because of the numerous complaints on top of the decrease in prices of housing, along with legislation, it was much pressure on the Tax Assessment Office to do something. The way they Assessed the taxes was never based on market value but solely on what they thought the house was worth (even though they claimed to send an appraisal out to assess the property). Not sure where those appraisers were from but during the housing boom a slue of appraisers were fired for inflating the prices. Effective July 1 2011 taxes have dropped in half in some cases thus imitating the housing market in correcting itself from what were unusual prices.

Damon J. Brockenberry (Damon The Agent)

Your Washington DC Area Realtor

Servicing Washington, DC, Maryland, & Virginia

cell: 240-694-6460 e-mail: sold@damontheagent.com

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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

In alot of towns here in Nh i noticed assessed values have dropped in half but looking at their tax rate it doubled so taxes are a little mor ethan last year despite the new lower assessed values.

Jul 19, 2011 02:34 AM