Are homes in Frederick MD re-assessed to be more in line with sale price at the time of sale? Some of these assessed values are way out of line.

Asked by Nathan, Old Farm, Frederick, MD Tue May 10, 2011

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Marie Petrel…, Agent, Frederick, MD
Wed May 11, 2011
Nathan--You hit the nail on the head and Chris has info. I recently blogged about this exact issue. Check out http://www.blog.LiveInFrederick.com for forms and information as well. The main thing you would need to do is have the current market value documented to support challenging the assessed value. It is most definitely worth your effort! Marie :-)
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Chris Highla…, Agent, Frederick, MD
Tue May 10, 2011
Nathan, homes are re-assessed every three on a rotating basis over three geographical areas in Frederick County. You'll notice that the homes that have assessments that are too high have not been re-assessed in about 3 years.

There are 3 ways to challenge an assessment:

1) When a buyer purchases a home, they can challenge the assessment between January 1 and June 30.

2) Upon receipt of an assessment notice; the cycle is every 3 years in Maryland, and communities are divided into 3 grids so that the homes in each grid get reviewed once every three years, on a rotating basis. The next notices will come out July 1. You have 45 days to appeal. If your appeal is successful, you will not see the effect on your taxes until the next year. That's why you might want to appeal...

3) During the mid-cycle, I've written an article about it if you'd like to get the entire process... probably more info than you need right now, but someone reading might get something out of it. http://ezinearticles.com/?Appeal-Your-Maryland-Home-Tax-Asse…

Most people are aware that the assessments are out of line in about 1/3 of the homes in the county. It shouldn't affect negotiations on a home.
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