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As the saying goes, the only two sure things in life are taxes and….well, let’s just talk about property taxes in Montgomery County!
How the Tax Rate is Determined – The real property tax rate is set each year by the County Council and applied to the assessed value of the property. The fully phased-in assessed value equals the full cash value of the property – according to the county – this is NOT market value. The real property tax is levied annually on all taxable land and improvements (the home and other buildings).
Other charges that may be included in your Real Property Consolidated Tax Bill are:
- state and county taxes;
- city levies, e.g. Rockville property tax;
- solid waste and recycling charges (which vary, based on services provided);
- stormwater management fee,
- water quality protection charge which provides inspections and maintenance for county stormwater facilities, protecting streams, water supplies and property by keeping stormwater facilities functioning properly and continually capable of removing pollution, recharging ground water, protecting stream banks and keeping roads and property from flooding;
- Washington Suburban Sanitary Commission (WSSC) connection charge/front foot benefit charge for sewer and public water;
- all properties in Maryland are levied an annual fee of $60 (included in WSSC charge) dedicated to the Bay Restoration Fund, in order to improve the water quality of the Chesapeake Bay. Homeowners on septic systems are levied this on their county tax bill.
Maryland Real Property Tax bills are due bi-annually – twice a year. You will receive a copy of your tax bill and it is your responsibility to make sure that your mortgage company has received it and it is scheduled for them to pay out of your mortgage escrow account, if it is established as such. If it is not included in your escrow, you are responsible for payment by the due date.
Special Development Districts: If you own real property in tax classes R061 (Kingsview Village Center) or R064 (West Germantown) additional taxes appear on your bill to cover the costs of infrastructure which are paid back to the county, who has fronted the bonds. This is intended to make sure that new construction has the roads and other services to support the increase in homes.
Maryland is on a three (3) year assessment cycle. If you put your Montgomery County MD home up for sale, you are required to disclose your current property taxes and the estimated taxes a new owner would pay (which will in most cases be higher). You can find information for invidual properties below.
Montgomery County Property Tax Credit Information
Homestead Credit – To assist homeowners affected by a large assessment increase by capping the increase. It is not applicable the first year that the home was purchased
County Supplemental Tax Credit – Eligibility is based on a homeowner’s household income compared to their property tax bill
Homeowner’s Property Tax Credit – For those living on limited or fixed incomes, compared to the tax bill
Senior Tax Credit – One of the property owners must be age 65 with the property being your principal residence
Fire Sprinkler System Credit – A one-time tax credit to partially offset the cost
The County offers many tax credits and exemptions against the real property tax for which you may be eligible.
Appealing your Property Tax Assessment
If you feel that the estimate of your property value is wrong, the assessment appeal process is available to you. The Myers Team would be happy to help you collect information on comparables to support your appeal, just call us at 301-910-9910.
Property owners will normally receive a Notice of Assessment every three years that shows the old market value as well as the new market value. The new value reflects past sales and other conditions affecting the property from the time of the last assessment.
If you decide to appeal, the first step is to reply to the Notice of Assessment by signing and returning the appeal form within 45 days of the date of the notice. Following this, a personal or telephone hearing will be scheduled. Appeals can also be made in writing, eliminating the need for a hearing.
More on Appealing a Property Tax Assessment
Quick Links for Property Taxes in Montgomery County
General FAQs on Montgomery County property taxes
How to find the current property tax for a specific Montgomery County MD home
How to find the estimated property tax a new owner would pay
Montgomery County Property Tax Rates
More on Montgomery County MD real estate taxes
Search the Multiple Listing Service for Montgomery County, MDHomes for Sale – Click on the map to refine your search according to your needs. You can register to get alerts, save favorites, make property notes and save your searches. Email The Myers Team at bobmyersteam@gmail.com for a list of Coming Soon properties, which are not included here.
