Surprise! Your monthly payment is $200 more a month.

"Under current Montgomery County law, a seller is not obliged to disclose the property taxes that a prospective buyer would pay on a home. Instead, listings for homes on the market - whether in the Multiple Listing Service or in fliers at open houses - display the taxes most recently assessed to the seller."

I wrote about this subject last month here and it was covered again in the article above two weeks ago. Last week a local agent wrote a letter to the editor suggesting that "The problem at hand is caused by government abdicating its responsibility for assessing property value. The council should focus on creating a way for the necessary information to be readily available to sellers, buyers and real estate professionals so that full disclosure of property tax information is possible."

I'm not sure the government is the answer since the county is already providing a website that can be accessed by anyone with a computer. When a home is sold, the phase in homestead credits are no longer credits available to the purchaser. The buyer will be responsible for the entire tax bill. Take the time and see what the payment will be without the credits so you can factor the increase into your budget. It would be great for the seller/agent to provide true numbers, but it can't hurt to do your part and check things out.

Maryland Department of Assessments and Taxation
Real Property Data Search

Welcome to the Montgomery County
Property Tax Account Information and Bill Payment System