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Information on Real Estate Taxes

Real estate taxes are determined by the amount at which the State of Maryland assesses a home's value. The state assessment is not directly comparable with the market value of a home. In our neighborhood, the state assessment value was lower than the market value until the economic conditions caused it to flip in 2009.

The state assesses values of properties on a three year cycle. The state reassessed property values in the community in 2017, and notified us by mail of the total assessed value (land and building) in January, 2017. The assessments are phased in over a three-year period, so that is why the amounts for 2017, 2018, and 2019 are different (and higher) each year.

In May 2016, when the County Council adopted the county budget, the Montgomery County Council gave homeowners a one-time credit of $692 in an attempt to offset a huge increase in the overall tax rate the County Council adopted. The weighted average property tax rate for 2016 was $1.03 per $100 of assessed value, up 3.9 cents from the 2015 rate. When the Council adopts a budget in May 2017, this section will be updated.

In March 2017, the County Council passed legislation that provides a 20% tax credit on the real estate tax portion of tax bills for homeowners who are age 65 and who have retired from the United States Armed Forces. More information and an application for the tax credit is here.

Real estate taxes are divided into two payments, one due by September 30, and the other by December 31 for each calendar year. Information on where and how to pay tax bills is on the county's web site. If you have a mortgage company withhold money in escrow to pay taxes, make sure that you send a copy of your tax bill to your mortgage company so they will pay it and, if necessary, adjust your monthly escrow so the right amount of money will be withheld for your tax payments.

Click here for more information about homestead credits from the State of Maryland Department of Assessment and Taxation.

 
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Webmaster: Rocky Lopes -- Updated: April 9, 2017