[Chat] Propery Tax hearing

[John Spurrier]

Emily,

The assessments used to be based upon 40 percent of market value, but the 
rate was around $5.85 per $100 of assessed value, plus the state assessment 
bringing it to over $6 per $100 of assessed value. Over the past few years 
they converted to full market value (supposedly) and reduced the rate to 
$2.46 which is around 40 percent of the old rate. I believe this was because
publications comparing major cities for economic development and business 
relocation purposes often compare property tax rates and Baltimore's was so 
high that it was seen as discouraging investment.

Here's a link to property tax rates around the state:

http://www.fountainheadtitle.com/taxrates.htm

John

John Spurrier
Your LIVE BALTIMORE Preferred Realtor
(410) 433-7800
subscribe to my email newsletter
jspurrier at cbmove.com




----Original Message Follows----
From: echalmers at mindspring.com
Reply-To: echalmers at mindspring.com,The Charles Village Chat List 
<Chat at charlesvillage.info>
To: The Charles Village Chat List <Chat at charlesvillage.info>
Subject: RE: [Chat] Propery Tax hearing
Date: Tue, 3 May 2005 14:49:59 -0400 (GMT-04:00)

If the property tax increases people are appealling are anything like mine, 
I am unsure what the basis of an appeal would be. My property is worth 
around $250K, and the assessment--admittedly high in dollar amounts--is 
being raised from $80K by $3K each year for the next 3 years. Yes, my taxes 
will be higher, but I also have a huge equity in the house. I am unsure what 
I could argue, although of course I would like to keep my taxes low.

The problem as I see it is that the tax rates themselves are so high that 
it's almost impossible to get a fair calculation of what the assessment 
should be. If our houses were assessed at market value, none of us--and 
almost no one else-- could afford them. Thus they are assessed at 1997 
rates, and who knows what is fair. The state could make the process a whole 
lot simpler by lowering the rates and using more market-based assessments. I 
think that may be what Martin O'Malley wants to do.

Emily

-----Original Message-----
From: John Spurrier <jfspur at hotmail.com>
Sent: May 3, 2005 8:03 AM
To: Chat at charlesvillage.info, Discussion at charlesvillage.info
Subject: RE: [Chat] Propery Tax hearing

Didon,

I appealed my assessment recently with mixed results. I chose to appeal
because there were
mistakes on the property information sheet for a building that I recently
purchased.

I would suggest that if you haven't done so already, get a copy of the
worksheet for your house.
Also, try to locate other similar properties with lower assessments that are
more in line with the condition of your property that can be used as
comparables. Then get copies of the worksheets for those addresses.

Is it the new assessment that you are appealing? Aren't you subject to the
4% cap for increases?
Regardless of the amount of the new assessment, your increase should be
limited to 4% each year.

I brought photographs that indicated property conditions the assessor
couldn't possible know about.
They offered a slight reduction which will save me a few hundred dollars
over the next three years.
Since I had recently purchased the building at a great price, it was hard to
persuade the hearing officer that the property was worth less than I paid
for it.

Good luck!

John

p.s. if you need help with comparables, let me know.



John Spurrier
Your LIVE BALTIMORE Preferred Realtor
(410) 433-7800
subscribe to my email newsletter
jspurrier at cbmove.com



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