Appeal MD real property assesment

[Anonymous]

MOCO has my house valued 11% higher than Redfin value. I don’t suppose they consider those websites?

[Anonymous]

Anonymous wrote:

Anonymous wrote:To OP, can you tell me how much the assessed value for the building, ie, improvement, has increased compared to the increase in land value?
For us, it’s all in the increase in building value although there’s been no “improvement”, it’s 3 years older

I am not the OP, but in our neighborhood they only increased the value of the improvements. The land values for all the properties stayed the same. Which makes no sense.

Exactly,

[Anonymous]

Anonymous wrote:Having litigated this twice before, here are my thoughts:

1) Because MoCo only assesses every 3 years, people get sticker shock. But the assessment is usually still below market value.

2) The cost of hiring someone like me is just not worth it unless you are talking about a MASSIVE misfire on the assessment. I did the job mostly pro bono for friends of the firm. If I billed full freight for it, each client would have lost even if he won. It is usually worth hiring an attorney for a commercial property. Not usually worth it for a home. You’re also going to need to hire an expert if you go beyond the initial SDAT level.

3) And you will need to go beyond the initial SDAT level. They RARELY grant appeals unless it is an obvious miscalculation on the assessment (square footage is off). So then you go to the County Appeals Board. Which is a rubber stamp and generally loathes residential owners who appeal. So then you go to Maryland Tax Court. And that’s where both of my cases settled. After many months from start to finish.

Hope this is helpful.

Not true. The county board is members of the public and they were very reasonable. Reduced my assessment by $200k.

[Anonymous]

Anonymous wrote:It did not go up 34 percent
MOCO caps at 10 percent per year
Learn math people

Yes it did, idiot. The assessment increases a certain amount - average this time around is 20 percent, per media reports. The fact that it is phased in over three years and the annual increase is capped (for those with the homestead deduction only) at 10 percent is a completely separate issue. Learn the rules, people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your house probably is worth 34% more than it was three years ago. Moco has super low assessments. In Va they redo them every year.

MoCo has been flat since 2022. SFHs have even declined a little. That’s if you look at actual sales data.

MoCO only reassess every 3 years. So the 1-1-2025 Assessment is based on 2022-2024 average, Which would be way higher then their 1-1-2023 assessment based on 2020-2022 average.

My block houses are still going top dollar. It depends where in MoCo. I think outer MoCo and new build townhomes in 2022-2024 were over priced and stalling now.

It’s not a multi year average. They look at 2024 comps only.

[Anonymous]

Our assessment went up a ton that I don't even think is in the realm of reality. There hasn't been a single comparable house near us that has sold for the assessment price they're smacking us with. Any home near us sold for a price they're assessing us has been dramatically updated and is in better condition than ours. If we accepted the assessments though, we'd be well over the 20% threshold a could drop our PMI. While the tax increase would suck, I did the math and if it simultaneously resulted in us being able to ditch PMI the grand total increase would be only about an extra $40-50 per month, which isn't with my time to fight over. Do banks usually accept the state's assessment value for determining to ditch PMI?