Maryland residents are gearing up for a significant shift in property taxes, with many homeowners facing an increase of more than 20% in 2025. According to recent reports, this tax hike will impact thousands across the state, leaving many residents in a state of shock. But if you're one of our valued clients or friends, you don't have to worry as much about this upcoming increase.
At Vidona Residential, we regularly audit property taxes for our clients to ensure that they're receiving all the benefits available to them, including the crucial Homestead Tax Credit. This credit is a game-changer, as it caps the annual increase of property taxes to 10%—far less than the state’s average increase of over 20%. By proactively ensuring you have this credit in place, we save you from the financial burden that many others may soon face.
This level of attention to detail and dedication to safeguarding your interests is exactly why so many people trust us. If you want the kind of care and expertise that comes with knowing your property taxes are in the best hands, don’t hesitate to reach out. Good People know Good People, and we’re here to ensure your property investment continues to be a source of security, not stress.
If you’d like to learn more about how we can help with your property taxes or other real estate concerns, get in touch today. Let’s make sure you’re prepared for whatever comes your way in 2025 and beyond.
Thousands of Maryland residents can expect their 2025 property taxes to go up
By: Ryan Dickstein
Posted 3:05 PM, Dec 31, 2024 and last updated 12:31 PM, Jan 03, 2025
ANNAPOLIS, Md. — Property taxes are expected to rise for Maryland businesses and homeowners in the new year.
In 2025 thousands of Marylanders saw their property values rise 20 percent, likely leading to higher taxes.
State property values are reassessed every three years, according to a schedule that divides commercial and residential properties into three groups.
This upcoming year, it's group one's turn. They were last assessed in 2022; and saw their property value go up by 12 percent.
Broken down, Somerset County home and business owners saw the highest value increase at 32 percent, followed by Allegany County at 31 percent.
The last time group one's property values decreased was 2013.
Notices were sent to Group 1 this week. Property owners have 45 days to appeal the assessed value.
In January 2024, group three experienced a 23.4 percent increase in property value. Group two is scheduled to be reassessed in January 2026.
Click here to see the numbers.
Although statewide legislation caps increases at 10 percent annually, many local governments have implemented lower caps.
Residents can apply for The Homeowners’ Tax Credit which sets a limit property taxes owed based on income for qualified candidates.
There's also a Homestead Tax Credit that caps a resident's yearly taxable assessment regardless of income level.
Additional costs for a number of other bills, including vehicle registration, water, tolls, and possibly even gas and electric, are likely in 2025 as well.
Editor's Note: Our original reporting suggested a 20 percent property tax increase. We've since revised this to correctly state property values increased, likely meaning taxes will rise in 2025, yet it's unclear by how much.
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