(Annapolis, MD) – Harford County State Senator Barry Glassman, R-35, has rolled out his own proposal to bring relief to Harford County and Maryland homeowners during the current economic downturn. Glassman found as home values continue to plummet his constituents have increased their appeals of local property tax assessments. Many of these assessments were done at the peak of the housing boom over the last three years and inflated the value of residential properties.
Glassman’s proposal calls on the State Department of Assessments and Taxation to freeze current re-assessments and begin to back track and re-adjust jurisdictions completed during the past five years.
“This is a way we can bring some mortgage relief to homeowners through lower escrow payments for local property taxes and to senior citizens who own their homes and pay their local property taxes directly.” stated Glassman.
For example, the MD Route 40 corridor in Harford County is due to get new assessment notices in January 2009. Under Glassman’s proposal the assessments would be frozen at a lower level. On the other hand, Havre de Grace and Joppatowne and Northern Harford would have to wait until 2010 for revisions and the Senator’s proposal would call for these areas to be done sooner to capture today’s lower values. The Bel Air area just received new values in January and would have to wait and pay higher rates until 2011 without some type of reassessment program.
Senator Glassman is hopeful some of this proposal could be acted upon without state legislation but he is currently also exploring that option as the 2009 Session of the General Assembly approaches in January.