Salisbury – The Maryland’s State Department of Assessment and Taxation’s 2021 reassessment of 759,422 residential and commercial properties indicates that the Salisbury area saw a 9.2% increase in property valuation, outpacing the statewide average of 8.1%.
Assessments were reached by evaluating the last 3 years’ sales, and factoring for improvements to the properties being assessed and/or the surrounding properties. Property value increases will be phased in over the next 3 years, while losses in property value will be implemented in the coming tax year. For the 2021 reassessment, 86.3% of Group 3 residential properties saw an increase in property value. Wicomico and the Greater Salisbury area outperformed most of the state, coming in third behind Prince George’s and Frederick counties.
“I think it’s incredibly encouraging that the greater Salisbury/Wicomico area saw this continued growth in the latest round of assessments,” said Glanz. “It tells me that our momentum is real, and even a pandemic hasn’t been able to knock us off our course. It means that we’ll be in a very favorable position coming out the other side, and that we remain a desirable place to live, work and play.”
According to SDAT, all 23 counties and Baltimore City saw residential property values increase for the 3rd straight year, while 21 of those counties saw commercial property assessments increase for the same period. The full report from SDAT is available at https://dat.maryland.gov/newsroom/Pages/2020-12-30-Final-Reassessments.aspx
