City of Baltimore - File #: 12-0010R

• File #: 12-0010R
• Version: 0
• Name: Informational Hearing - Property Tax Reassessments
• Type: City Council Resolution
• Status: Adopted
• File created: 1/23/2012
• In control: Taxation, Finance and Economic Development Committee
• Final action: 2/27/2012
• Title: Informational Hearing - Property Tax Reassessments FOR the purpose of inviting representatives from the State Department of Assessments and Taxation’s Baltimore City office to appear before the Council to discuss the process by which properties in Baltimore were reassessed for tax purposes, and to explain what rights homeowners have if they believe these assessments are not correct.
• Sponsors: Carl Stokes, Bill Henry, Mary Pat Clarke, James B. Kraft, William "Pete" Welch, President Young, Robert Curran, Helen L. Holton, Sharon Green Middleton, Rochelle Spector, Brandon M. Scott, Nick Mosby, William H. Cole, IV, Edward Reisinger
• Indexes: Resolution

Date	Ver.	Action By	Action	Result
2/27/2012	0	Taxation, Finance and Economic Development Committee	Recommended Favorably
2/27/2012	0	City Council	Adopted
1/23/2012	0	City Council	Introduced
1/23/2012	0	City Council	Assigned
1/23/2012	0	Taxation, Finance and Economic Development Committee	Scheduled for a Public Hearing

* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*

CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)

Introduced by: Councilmember Stokes



A RESOLUTION ENTITLED

A COUNCIL RESOLUTION concerning
title
Informational Hearing - Property Tax Reassessments

FOR the purpose of inviting representatives from the State Department of Assessments and Taxation’s Baltimore City office to appear before the Council to discuss the process by which properties in Baltimore were reassessed for tax purposes, and to explain what rights homeowners have if they believe these assessments are not correct.
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Recitals

In Maryland, the law requires all properties to be reassessed at their “current market value” once every 3 years. Roughly 1/3 of all properties are therefore reassessed by the State Department of Assessments and Taxation (SDAT) each year. On December 27th, the state sent out reassessments for the 737,423 properties under the most recent cycle, including many properties in Baltimore City.

In this cycle, 91% of residential properties reassessed saw a decline in value compared to their 2008 assessments; with the average value dropping by 17%. Given the state of the housing market over the last 3 years, declining assessments can hardly be deemed a surprise. Still, especially in light of the continuing volatility of the property market, many homeowners remain confused about exactly how the State arrived at a particular value for their home. SDAT’s computation met...