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Maryland Property Values Rise 23.4% According to Maryland Department of Assessments and Taxation’s 2024 Reassessment

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Maryland Property Values Rise 23.4% According to Maryland Department of Assessments and Taxation’s 2024 Reassessment


The Maryland Department of Assessments and Taxation today announced its 2024 reassessment of 767,226 “Group 3” residential and commercial properties. 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 3” properties was 23.4% since its last reassessment three years ago.

The overall statewide increase was higher than 2023’s 20.6% increase, representing an average increase in value of 25.6% for all residential properties and 17.6% for all commercial properties over the three-year period since the last “Group 3” reassessment for January 2021.

“For six consecutive years, all 23 counties and Baltimore City have experienced an increase in residential and commercial property values, indicating that owning a home or business in Maryland continues to be a good investment,” said SDAT Director Michael Higgs. “SDAT is pleased to provide our customers with new and improved reassessment notices this year and, as part of our Tax Credit Awareness Campaign, each reassessment notice includes information about the Departments’ Homeowners’ and Homestead Tax Credits, which save Marylanders more than $260 million in taxes each year.”

The 2024 assessments for “Group 3” properties were based on an evaluation of 85,904 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 2024 tax year. For the 2024 reassessment, 96.6% of Group 3 residential properties saw an increase in property value.

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Property tax assessment notices were mailed to Group 3 property owners on Thursday, December 28, 2023. A map of which properties fall into Groups 1, 2, and 3 and their respective years for reassessment can be viewed on SDAT’s website here. For additional statistics and information, please visit the Department’s Statistics & Reports webpage.

The Homeowners’ Tax Credit provides relief for eligible homeowners by setting a limit on the amount of property taxes that are owed based on their income. Residential property owners who complete a one-time application and meet certain eligibility requirements can also receive a Homestead Tax Credit, which limits their principal residence’s taxable assessment from increasing by more than a certain percentage each year regardless of their income level. Although statewide legislation caps the increase at no more than 10% per year, many local governments have capped property taxes at lower percentages.










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Maryland

Sunny, beautiful start to Maryland’s workweek

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Sunny, beautiful start to Maryland’s workweek


Sunny, beautiful start to Maryland’s workweek – CBS Baltimore

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Maryland

Fall chill overnight for Maryland

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Fall chill overnight for Maryland


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3 Takeaways from the Spartans’ Victory over Maryland

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3 Takeaways from the Spartans’ Victory over Maryland


The Michigan State Spartans under head coach Jonathan Smith are 2-0 thanks to a road win against a tough Maryland team, 27-24.

Resilience might be the word to describe this squad so far. The Spartans made some big blunders against the Terrapins and still found a way to battle back. The gritty performance might have been enough to get the Spartans into a bowl game.

Here are three takeaways from the Spartans’ win.

Aidan Chiles: Very Young, Very Talented

Chiles looked vastly improved from the home opener against Florida Atlantic. Again, he looked like an 18-year-old quarterback.

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Chiles got not just his first passing touchdown as a Spartan, but three passing touchdowns to go with 24 of 39 passing and 363 yards. He also had three interceptions, which very nearly cost the Spartans the game.

Chiles has about as strong an arm as any quarterback to wear the green and white in recent memory. He is dangerous when he is on the move.

Perhaps a critique is that he should try to make more plays with his legs, he has seemed cautious to these first two games. The first pass rusher to get to Chiles likely won’t bring him down — Chiles has a great feel for the pocket and he is quite slippery.

Chiles overcame some poor mistakes and throwing mechanics (his feet tend to get wide and it factors into his overthrows) to lead the Spartans in the most critical of situations against a sturdy Maryland defense.

Huge game for Chiles, who showed why the hype was so promising.

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Can the Spartans Stay Healthy on Defense?

Already, this Spartans squad is beaten up. Dillon Tatum, a key defensive back, lost for the season. Wide receiver Alante Brown, whose injury allowed for Nick Marsh to announce himself to the world, lost for the foreseeable future. Kristian Phillips at guard was huge.

During the Maryland game, several Spartans were beat up. Few even had to go into the tent on the sideline. It will be crucial for the Spartans to remain healthy, especially on defense. Most especially in the defensive backfield.

The Spartans are very confident in their young defensive backs — Justin Denson Jr., Andrew Brinson IV, and Jaylen Thompson can all be very good players, but they need more time to develop.

If more Spartans fall to injury, the defensive backfield could get very young.

Nick Marsh is the Real Deal

Marsh was the recruiting gem of 2024, the best player in a class with plenty of good talent. A highly-rated four-star, Marsh was the No. 107-ranked player in the class by 247Sports. Marsh, of course, stood out in fall camp like the high-profile recruit he was.

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6-foot-3, 208 pounds, Marsh already had a man’s body. At just 18 years old.

“Possesses the size, athleticism, and multi-sport profile that projects very well in the long term,” 247Sports’ Gabe Brooks wrote. “Traitsy mismatch wideout with high-major impact potential and the ceiling to develop into an NFL Draft candidate.”

With the loss of Brown, Marsh was asked to step up. Step up he did — eight receptions for 194 receiving yards and a touchdown. Wide receivers coach Courtney Hawkins might have his next in the line of Jalen Nailor, Jayden Reed and Keon Coleman.

Don’t forget to follow the official Spartan Nation Page on Facebook Spartan Nation WHEN YOU CLICK RIGHT HERE, and be a part of our vibrant community group Go Green Go White as well WHEN YOU CLICK RIGHT HERE.



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