I guess I'm glad that Maryland and Baltimore County both have tax caps - the taxes can only increase I think it is 5% a year even if the reassessment increase the property by 100%.
I think our property and house assessment went up a ridiculous amount last year - close to your 50,000. But the taxable amount only went up 5%.
And the scary part is what we paid $245,000 for - a year later was selling for $280,000 and now even more. Especially with the neighborhood across from ours starting at $300,000 and the new development around the corner starting at $500,000. Imazing ain't it?
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
timeasmymeasure
no subject
Date: 2004-02-18 06:44 am (UTC)I think our property and house assessment went up a ridiculous amount last year - close to your 50,000. But the taxable amount only went up 5%.
And the scary part is what we paid $245,000 for - a year later was selling for $280,000 and now even more. Especially with the neighborhood across from ours starting at $300,000 and the new development around the corner starting at $500,000. Imazing ain't it?