Now That You've Been Homeowners for a Day...

Now that you have been Maryland homeowners for a day...

Here is the link to A Home Owner's Guide to Property Taxes and Assessments for Maryland and another link to the Assessment Appeal Process in Maryland. In part, it says...

If you purchase a property and the property is transferred after January 1 but before July 1, you may file an appeal within 60 days of the transfer. After filing a written appeal, you will be scheduled for a hearing; or, if you prefer, your written appeal can be reviewed instead of having a hearing.

Your property is currently assessed at $386,500 - approximately 25% more than your purchase price of $275,000. A successful appeal may save you over $1600 per year in property taxes that you could spend updating your home or replenishing your retirement account.

You can download the tax appeal form at Maryland Property Tax Appeal Form. Item #3 should include a statement from you that reads something to the effect that...

You can obtain a copy of the appraisal from your lender (if you don't already have one), and I'll be happy to provide another copy of the MRIS printout if you need one.

I urge you to file your appeal NOW, before you get bogged down in life and the 60-day deadline slips away. By the way, you will probably get a quicker response if you ask for a review, and not a hearing.

'Hope you're enjoying your first weekend as homeowners!