Reply to New real estate assessment rates are released from State of Maryland

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]They’ve had to increase tax rates on residential properties because office values have declined significantly in the past four years. [/quote]

This thread is about residential property values increasing. It's not about tax rates. It's not about office property values. It's about increasing residential property values.[/quote]

They are required by state law to be 100% of market value. [/quote]

And people seem to be upset about this. THE VALUE OF MY PROPERTY IS INCREASING, BOOO! BOOOOOOOOOO![/quote]

I desperately hope someone had called out this idiocy in subsequent posts, but in case they haven't, your tax assessed value is increasing.  That's it.  It may be that the actual value of your property also is increasing, but it's by no means certain.  Tax assessments theoretically track actual property values, but they famously do not.  The government doesn't get to decide the actual value of a piece or property, the open market does when the property is sold.

If you don't understand this (and apparently you don't), you have no business offering an opinion here, much less ridiculing others about theirs.  [/quote]

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