Submitted by Kooky_Deal9566 t3_zy6nrg in baltimore
The assessed value of my property increased by 40%. I did some digging into it and it appears that the land value for my property is about $20k higher than all the neighboring properties on my side of the block (and about $60k higher than properties across the street). Per square foot, the improvement value is nearly $50 more than the more recently renovated home next door. I paid above market value for it in 2021, and the new assessed value is identical to the closing price.
In short, I think my new property value is about $30k above what it should be. With Baltimore City property tax rates set to increase, this overvalued assessment will raise my yearly tax payments by about $2k. I plan to appeal the assessment, but am curious if anyone out there has had any experience and/or success in doing so. I'd appreciate any "war stories" from the appeal process as well.
Now, before people chastize me for trying to get out of paying taxes...I understand that across Maryland assessed property values have increased by about 20%. My issue is not with any increase; my issue is that my property is valued significantly more than similarly sized and recently renovated properties on my block. I'd like to pay my fair share, but nothing more than that.
Unusual-Thanks-2959 t1_j244n1k wrote
I appealed a few years ago in person (pre-covid) and was successful. What they care about are recent closed comparable sales, not current "for sale" listings. Also verify that the description of your property in their system is correct, number of bedrooms, bathrooms, square footage, etc. Mine said I had a "super bath" whatever the f* that is, which it does not. Edited to add: If this is your primary residence, confirm you're signed up for the homestead tax credit, which limits the annual increase of the assessment. Homestead tax credit