Maryland's 3 Year Appreciation Rate

Md.: Housing Appraisals Increase 67% in 3 Years(January 6, 2006) --

The most recent property assessment in Maryland shows that home values rose an average of 67 percent over the last three years, marking the highest gain in more than two decades.

Much of the increase is tied to a supply-and-demand imbalance. Assessments shot up 68.7 percent in Anne Arundel County due to Fort Meade's expansion plans and 74.3 percent in Howard County due to a scarcity of developable land and top-performing public schools.

The largest gain was recorded in Worcester County, where assessments surged 80 percent. Poorer communities in Montgomery and Prince George's counties also benefited from the housing boom, with assessments climbing above 70 percent.

Although home prices continue to rise, observers note that homes are taking longer to sell. Meanwhile, lawmakers in several jurisdictions are joining Gov. Robert Ehrlich Jr. in a quest to lower property tax rates.

Source: Washington Post (01/05/06); Spivack, Miranda S.