Property tax assessments are a critical part of local government funding, helping to pay for essential public services such as schools, roads, police, and fire departments. In Maryland, understanding the timing of these assessments is essential for homeowners, prospective buyers, and real estate professionals alike. Knowing when and how often your property is reassessed can help you anticipate changes in your tax bill and plan accordingly.
In Maryland, real property is assessed on a triennial cycle, which means property tax assessments occur once every three years. This system is administered by the State Department of Assessments and Taxation (SDAT), which is responsible for determining the fair market value of all real estate in the state.
To manage this process efficiently and equitably, Maryland divides all real property into three groups. Each year, one-third of all properties statewide are reassessed, ensuring that every property is reviewed at least once every three years. This rotating cycle allows for up-to-date valuations without overwhelming the assessment system or creating sudden, large-scale tax shifts.
Property owners typically receive an Assessment Notice in late December of the year prior to when the new values take effect. This notice includes the property's current assessed value, as well as the new proposed value for the next three-year cycle.
The reassessment reflects changes in the real estate market, improvements or additions to the property, or any other factors that might affect the property’s value. Importantly, if the property owner believes the new value is too high, they have the right to appeal the assessment within a specified timeframe.
This predictable schedule benefits both taxpayers and municipalities. Homeowners can anticipate when their property might be reassessed and prepare for potential changes in their tax obligations. Meanwhile, local governments maintain a stable and fair tax base to fund public services.
Whether you're a current Maryland homeowner or considering purchasing property in the state, it’s essential to be aware of the triennial assessment cycle and monitor your property’s assessed value regularly.
In Maryland, property tax assessments occur every three years, with one-third of properties reassessed each year by SDAT. Staying informed about this cycle can help you avoid surprises and better manage your property-related expenses. For expert help with Maryland property tax assessments, reach out to us today.
