This report measures the quality of real property assessments in each of Maryland's 24 counties. Uniform and accurate assessments are the foundation of fair property taxation. Maryland's Constitution requires that all real property subject to property taxation be assessed uniformly.
State law requires that assessments be based on the fair market value of the property.
Therefore, uniformity and market value are the standards used to measure the quality of the assessment work performed by the Department. This report measures assessment quality by looking at the most recent reassessment program and comparing the results of that effort to actual market conditions. Because state law requires that one-third of all real property be reassessed each year, the Department's most recent program resulted in approximately 616,000 reassessment notices being issued in late December of 1997. These reassessments reflected our estimates of property values as of January 1, 1998. The Department has adopted the national standards for measuring property assessment quality as outlined by the International Association of Assessing Officers.