Maryland Property Tax — Assessment Rules

Assessment basis

100% of full cash value (Tax-Property §§8-103, 8-104); assessed by SDAT via sales, cost, and income approaches (income approach standard for commercial).

Reassessment cycle

STATE-ASSESSED: SDAT values every Maryland parcel through 24 local STATE assessment offices (23 counties + Baltimore City); localities only set rates and bill. TRIENNIAL cycle in three rotating groups (Jan 1 valuation; notices ~Dec 28) at 100% full cash value — income approach standard for commercial. One statewide portal (SDAT Real Property Search) covers every parcel; worksheets free on request.

Reassessment trigger

Triennial group rotation; INTERIM reassessment on zoning/use change or improvements adding ≥$100k. PHASE-IN asymmetry: increases spread equally over three years — decreases apply immediately in full.

Personal & intangible property

Businesses file the SDAT Annual Report/Personal Property Return; SDAT assesses, localities levy — and several jurisdictions exempt BPP entirely (county-by-county). A small STATE real property tax layers on top of local rates.

CRE forecasting note

Three appeal doors: 45 DAYS from any notice (Supervisor level); PETITION FOR REVIEW in non-assessment years by the first working day after Jan 1 — the vacancy/income-drop lever; and a 60-day new-purchaser appeal for Jan-Jun transfers. Escalation: PTAAB (independent county boards, 30 days, clear-and-convincing burden) then Maryland Tax Court. Model the three-year phase-in on acquisitions; calendar the PFR for distressed years.

Residential note

Homestead Credit (10% state cap on taxable growth, lower in many counties; one-time SDAT filing — every owner-occupant should file, no income test) + income-based Homeowners' Tax Credit. Reassessment notices flag Homestead application status.

Maryland — all 24 jurisdictions