Baltimore, MD – The Maryland Department of Assessments and Taxation today announced its 2025 reassessment of 712,782 “Group 1” residential and commercial properties. The property tax assessment notices for properties in Group 1 were mailed today.
In Maryland, there are more than two million property accounts that are split into three groups, each appraised once every three years. The overall statewide value increase for “Group 1” properties was 20.1% over the three years since the last reassessment. The overall statewide increase represents an average increase in value of 21.1% for all residential properties and 16.4% for all commercial properties during this period.
“For seven consecutive years, all 23 counties and Baltimore City have experienced an increase in property values, ” said Department of Assessments and Taxation Director Dan Phillips. “As part of our Tax Credit Awareness Campaign, each reassessment notice includes the status of the property as the owner’s principal residence and the status of their Homestead Tax Credit application. Owners are encouraged to apply for the Homestead Tax Credit if the property is their principal residence and they have not applied.”
Maryland offers several tax credit programs available for the property owner’s principal residence. The Homestead Tax Credit may limit the owner’s principal residence taxable assessment from increasing by more than a certain percentage each year regardless of their income level. Statewide legislation caps the increase at no more than 10% per year and many local governments have capped property assessment increases at lower percentages. Residential property owners must complete a one-time application and meet certain requirements to be eligible for the credit.
The Homeowners’ Tax Credit program provides relief for limited income homeowners by setting a limit on the amount of property taxes that they are responsible for based on their income.
All homeowners are encouraged to visit the Department’s website at dat.maryland.gov for additional information regarding the tax credit programs.
The 2025 assessments for “Group 1” properties were based on an evaluation of 60,761 sales that occurred within the group over the last three years. If the reassessment resulted in a property value being adjusted, any increase in value will be phased-in equally over the next three years, while any decrease in value will be fully implemented in the 2025 tax year. For the 2025 reassessment, 96.9% of Group 1 residential properties saw an increase in property value.
For additional statistics and information, please visit the Department’s Statistics & Reports webpage.
