Act Now! Limited Opportunity to Reduce Real Property Taxes on Newly Acquired Property

January 21, 2016

This is the time when one-third of the properties in Maryland are being reassessed for the next three years.   Appeals of those reassessments are due no later than February 11, 2016.  However, whenever a property is sold and transferred, there is another opportunity to appeal the assessment.  By statute, if a property is transferred after January 1 and before the beginning of the next taxable year (July 1),  the new owner of the property has 60 days from the date of transfer to appeal the assessment. This is an important, additional opportunity to appeal, particularly if the price paid for the property is lower than its assessed value.  If you have any questions regarding real property assessments and appeal rights in Maryland, please contact Bob Park at (301) 961-5175 or rpark@linowes-law.com

  

  

Linowes and Blocher LLP has prepared this e-blast for general information purposes only, and the information contained in it does not constitute legal advice. This e-blast is not an offer to represent you and does not create an attorney-client relationship with Linowes and Blocher LLP or any of the firm's attorneys. You should not act, or refrain from acting, in a manner that changes your legal position based upon any information contained in this e-blast without first consulting with an attorney.