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Worcester, Wicomico Record Property Value Increases

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Worcester, Wicomico Record Property Value Increases

BERLIN — When property owners across much of the Lower Shore get their property reassessment notices in the mail this week, most will find their values have increased since the last reassessment three years ago and some more so than others.

The State Department of Assessment and Taxation (SDAT) on Tuesday announced the results of the triennial assessment of residential and commercial real estate values across Maryland and the news was particularly good statewide with an average increase of around 9%. On the Lower Shore, properties in Worcester County’s Group 2 reassessment area lagged behind the state average, coming in at a combined 4.7%, while Wicomico far exceeded the statewide average increase, coming in at a combined 11%.

Each year, about one third of the residential and commercial properties across the state are reassessed and assigned new values that are used to determine property tax amounts. This year, properties in the Group 2 areas were reassessed as part of a rotating system in which the entire state is not reassessed in a single year. The Group 2 properties were last reassessed in 2017 and the new assessments announced this week represent the values as of Jan. 1, 2020.

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from BERLIN — When property owners across much of the Lower Shore get their property reassessment notices in the mail this week, most will find their values have increased since the last reassessment three years ago and some more so than others.

The State Department of Assessment and Taxation (SDAT) on Tuesday announced the results of the triennial assessment of residential and commercial real estate values across Maryland and the news was particularly good statewide with an average increase of around 9%. On the Lower Shore, properties in Worcester County’s Group 2 reassessment area lagged behind the state average, coming in at a combined 4.7%, while Wicomico far exceeded the statewide average increase, coming in at a combined 11%.

Each year, about one third of the residential and commercial properties across the state are reassessed and assigned new values that are used to determine property tax amounts. This year, properties in the Group 2 areas were reassessed as part of a rotating system in which the entire state is not reassessed in a single year. The Group 2 properties were last reassessed in 2017 and the new assessments announced this week represent the values as of Jan. 1, 2020.

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