No need for buyers to wait to appeal tax assessment
If you're buying a home in Maryland before July 1, add one more potential item to your to-do list: Appeal the property-tax assessment.
Anyone purchasing property in the first six months of the year can appeal within 60 days of purchase, rather than waiting around for the home to be reassessed. (Anyone can appeal any year, as it happens, but you'll have to wait longer for results to show up on your bill if you're not a new buyer.)
More details about the "appeal upon purchase" here.
Montgomery County resident Louis Wilen, who successfully appealed his assessment recently, suggested I remind you all of this option. "An 'Appeal Upon Purchase' is almost certain to result [in] tax savings for the 1/3 of homebuyers whose house was assessed in 2008, since 2008 assessments are based on bubble values," he wrote me.
"For example, there are many homes in my area that were assessed at about $600,000 in 2008, but have sold for about $500,000 during the past two months," he notes. "Every one of those homebuyers could potentially save about $1000 in property taxes when the bills come out in July -- but only if they submit an 'Appeal Upon Purchase' within 60 days of the purchase date."
Have you appealed upon purchase? How did it go? (Or are you waiting to hear?)