On March 3, Legislative Director Kevin Kinnally testified before the Ways and Means Committee in opposition to HB 1518 – Property Tax Assessments – 5-Year Assessment Cycle.
This bill alters Maryland’s real property assessment cycle from a three-year review to a five-year review and adjusts the phase-in schedule accordingly.
Counties depend on timely and accurate property assessments to fund schools, public safety, infrastructure, and essential services. By extending Maryland’s property assessment cycle from three years to five, this bill would create a longer lag between market value changes and the revenues counties rely on to meet rising costs.
This proposal comes at a time when counties face sustained fiscal
pressure from cost shifts and unfunded mandates. For the year ahead alone, State budget-balancing actions pose roughly $200 million of effects squarely on county budgets. Those costs fall directly on local budgets even as counties confront ever-increasing mandates for education funding, rising resident service demands and limited revenue flexibility.
More on MACo’s Advocacy:
pressure from cost shifts and unfunded mandates. For the year ahead alone, State budget-balancing actions pose roughly $200 million of effects squarely on county budgets. Those costs fall directly on local budgets even as counties confront ever-increasing mandates for education funding, rising resident service demands and limited revenue flexibility.