2010 Baltimore City Real Estate property tax (North Beach: short sales, foreclosures, credit)

[JaxWoof]

We have just received our 2010 Baltimore city property tax information. Could not believe the increase of over six hundred dollars. Since 2007, it has increased over a hundred percent. Does anyone know if there is anything we can do about it?

[mrboltonman]

Property tax is based on the assessed value of your home.

Assessments are done every 3 years and you should get a letter when your home is reassessed. At this time you can appeal the assessment. You can also appeal under other circumstances. I've included a few links for more information.

Property Assessment and Taxation Search:
Real Property Search

Assessments:
SDAT:Homeowner's Guide

Appeal Assessment:
SDAT: Assessment Appeal Process

Homeowner's Tax Credit:
MD Homeowners Tax Credit

Baltimore City Property Tax Bill:
http://cityservices.baltimorecity.gov/realproperty/

[North Beach Person]

Is this your residence? If so, you need to go here:

Real Property Search

and see if your house is listed as owner occupied or not. Generally, increases in property taxes are limited to 10%/year for owner occupied dwellings.

If it's an investment property you pay the full tax load cycled in over the three year assessment period.

[davecj]

We appealed ours in canton since the purchase price was half the assessed value. Long story short our taxes got cut in half once it went through.

[JaxWoof]

Thank you all for your quick and helpful responses. We'll look into all of your advices and will try to work on it. (Unfortunately, it is an investment property.)

[Dbatiste]

Originally Posted by davecj

We appealed ours in canton since the purchase price was half the assessed value. Long story short our taxes got cut in half once it went through.

Would they do the same for an investment property?

[North Beach Person]

Originally Posted by Dbatiste

Would they do the same for an investment property?

Yes, but the scrutiny is heightened. What would work in your favor is the number of short sales and foreclosures being bought by investors.

[Dbatiste]

Originally Posted by North Beach Person

Yes, but the scrutiny is heightened. What would work in your favor is the number of short sales and foreclosures being bought by investors.

Thanks. I'm going to look into this.

[carguy4]

My assessment went down by 60k, the tax rate remained the same yet my taxes increased by $200. The assessment credit was reduced. Any suggestions?

[North Beach Person]

Then your assessment either didn't go down or the math guys are screwy. Were there any increases in trash charges or special assessments for things like water/sewer benefit charges (not usage)?

Also, depending on when the reassessment took place, it may not kick in until next year and this year you were taxed on the old assessment cycle.