Property taxes are expected to rise for Maryland businesses and homeowners this New Year. In 2025 thousands of Marylanders will see their property values rise 20 percent, which will likely lead to higher tax bills. State property values are reassessed every three years, according to a schedule that divides commercial and residential properties into three groups. This upcoming year, it is group one’s turn. They were last assessed in 2022; and saw their property value go up by 12 percent. Somerset County residents and business owners saw the highest increase in their property values at 32 percent, followed by Allegany County at 31 percent.
Threats to competitiveness: Higher property taxes, additional fees for vehicle registration, water, tolls, and possibly energy are all threats Maryland’s competitiveness in attracting residents and growing the state’s decreasing tax base.
