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Property Values Rise 12.0% According to SDAT’s 2022 Reassessment

December 28th, 2021 by WCBC Radio

The Maryland Department of Assessments and Taxation (SDAT) today announced its 2022 reassessment of 704,430 “Group 1” residential and commercial properties. In Maryland, there are more than 2 million property accounts which are split into three groups, each appraised once every three years. The overall statewide increase for “Group 1” properties was 12.0% over the past three years according to SDAT.

The overall statewide increase was higher than 2020’s 8.1% increase. This represents an average increase in value of 12.7% for all residential properties and 9.7% for all commercial properties over the three-year period since the last Group 1 reassessment in 2019.