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Personal Finances / Buying or Selling a Home


Subject:  Re: Monster Home Price Check Date:  8/22/2002  6:23 AM
Author:  JeffreyDB Number:  46267 of 128973

Hi Tom,

In Maryland, the state recently changed the method for our "assessment" system.

We used to be at 40 - 60 % of appraised value. That is - an assessor visits your property - usually on foot every 3 years. They do their work outside and usually do not ask to come inside.

If you transer property, build an addition, maybe even re-fi, they re-do your numbers.

As of 7/2001, Maryland is a full "appraised" value state.

My house went from 38K to 105K on the records. The tax rate was adjusted to keep the yearly taxes at close to previous level, but the records now show the full value.

If you ID a property in Maryland, you can use the tax dept's web site to check out what they say the appraised / assessed vaule is.

You need the county and street name to make it work. A friend of mine recently sold and bought in Montgomery co. According to the records for each property, he sold for 2x what the value is and bought for 2x what the property value is listed.

Have fun!

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