BALTIMORE (AP) — Maryland tax officials say property values jumped nearly 21% over the last three years amid the pandemic’s strong market. It marks the largest such increase in recent years. Maryland’s 2 million property accounts are split into three groups and appraised once every three years to help determine property taxes owed. The State Department of Assessments and Taxation says the 2023 reassessment announced Thursday was the first for the nearly 800,000 commercial and residential properties in this group since the pandemic began. The reassessment is based on nearly 90,000 sales. Value increases are phased-in over the next three years and decreases will be fully implemented in the 2023 tax year.
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