The 2023 reassessment cycles in Maryland, Virginia, and Washington, D.C. (DMV) are underway, and property owners should expect increases across all industries and property types. Both Washington, D.C. and most of Virginia are on an annual assessment cycle, while Maryland reassesses every three years. As assessments don’t always appropriately track market changes during those periods, appeal of those values is often critical.
The local experts at Ryan have been closely monitoring the following upcoming deadlines:
Maryland
Property tax bills are issued in July/August of each year by Maryland’s 23 counties and Baltimore City, as well as the 155 incorporated municipalities in Maryland. In-cycle appeals are due 45 days from notice, with notices usually mailed in late December. Out-of-cycle appeals are due December 31 of the year preceding the value year. (Next appeal opportunity will be December 31, 2023.) New owners should note that properties purchased from January 1 through June 30 have 60 days to file an appeal regardless of where it is in its cycle.
Virginia
Real estate assessments are typically issued in January and February each year. The deadline for appeals will vary by county, with most falling between March to May. Most taxes are then due in two equal installments in June/July and December/January of each year.
Washington, D.C.
The tax year 2024 assessment notices will be mailed by March 1. The mandatory appeal deadline is April 1, and the mandatory income and expense statements are due April 15. There is a 10% noncompliance penalty of the total tax due; therefore, we strongly recommend you file timely and electronically if required. Tax bills are mailed twice per year and are due by March 31 and September 15.
Don’t risk an increase in your 2023 property taxes. Ryan’s experts have a proven history of successfully reducing values for a variety of property types using one or more of the established valuation approaches. Contact one of our experts listed below now.
TECHNICAL INFORMATION CONTACTS:
Cutchin Powell
Principal
Ryan
703.746.0022
cutchin.powell@ryan.com
Shawn Eskow
Director
Ryan
703.746.0022
shawn.eskow@ryan.com
Grant Steinhauser
Director
Ryan
703.746.0022
grant.steinhauser@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.