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Do phase in assessments apply to new owners? For emaple, we are looking at a house in Rockville where the

phase in assessment is $539k, but the total assessments is $679k. If we buy the house, is that pahse in discount lost and will we have to pay property tax on the $679k assessment or the phase in?
Tue Apr 29 2008, 03:23 - Rockville - Home Buying - 4 answers
 
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Melissa
Home Buyer
in United Kingd...
Melissa, Home Buyer in United Kingd... in United Kingd...
Answers (4)
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Mansur Hasib… was FIRST TO ANSWER
Your property may be reassed at the purchase price. Higher or lower.
Always call or request a hearing in person. Do not write the assessment office, as their interpretation of the material you provide such as a copy of the listing may not be the same as yours. -Speaking from personal experience. One of my properties was assessed for $85K more than the purchase price, just after closing. I am now looking forward to my hearing when I can get it straightened out.

Although the listing said "as is" it also said it was a fabulous home. That is Realtor speak for "please buy me".

Sat Jul 19 2008, 03:26
Web Reference: http://buyandsellexpert.com/index.php?s=assessment
 
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As of April 1, the seller is required to tell you the Estimated Tax for the 1st year of ownership. This will be higher than the current owner-occupant is paying because the phase-in does go away. If you are an owner-ocupant you will be entitled to the phase-in in the future. Here is the site from the County to detrmine estimated 1st year taxes: http://www.montgomerycountymd.gov/apps/OCP/Tax/index.asp

Wed May 14 2008, 18:54
Web Reference: http://www.montgomerycountymd.gov/apps/OCP/Tax/index.as...
 
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I could not say it better than Mansur. SDAT would be the best guide toward your assessment.

r,

Sun May 4 2008, 19:15
 
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FIRST ANSWER
Your best bet to get more definitive answers is to contact SDAT: http://www.dat.state.md.us/sdatweb/real.html

Tue Apr 29 2008, 18:04
Web Reference: http://www.buymeahome.net
 
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