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New Crofton Tax Assessments Arrived

The tax assessment for my Crofton home arrived last week, and it went down $50,000… did yours?  Not only that, the assessment notice is showing no increase for the following two years.  That’s quite a change from earlier assessments.

Even so, I’m not sure the amount dropped low enough because I believe our property value may have fallen even lower.  I’m gonna have to do a little research in the coming days and weeks to verify that one way or the other.  If you’re concerned about how much the market value of your home has gone down, and whether the new tax assessment is accurate, let me know and I can run some “comps” for you.

If you’re convinced the assessment is not correct, you can appeal it using those comps to help build your case.  The procedure is spelled out in the mailing you received with your assessment, as well as online.

Something else to be aware of is the absolute need to file for the Homestead Tax Credit, even if the little box on your form already identifies you as an owner-occupant.  Failure to submit this form could result in your losing the homestead exemption, with a subsequent property tax increase you will not like.

For more information, please read my post from last February, Maryland Real Estate Tax Change Affects YOU, and click through on the links to make sure you’re reading the latest updates on this from the Maryland State Department of Assessments and Taxation.

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