Act Now! Limited Opportunity to Reduce Real Property Taxes on Newly Acquired Property
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 firstname.lastname@example.org.
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