United States:
Md. High Court Allows Post-Cutoff Tax Assessment Evidence
01 June 2016
Fox Rothschild LLP
To print this article, all you need is to be registered or login on Mondaq.com.
Maryland's highest court recently held that the tax court
can value a property by relying on sale prices of comparable
properties bought soon after a cutoff date for the assessment. In
Ann Lane v. Supervisor of Assessments of Montgomery County, the
Maryland Court of Appeals concluded that the Maryland Tax Court had
properly taken into account sales of comparable properties that
occurred a few months after the so-called date of finality when
determining the value of a condominium. The date of finality is a
Maryland assessment tool used to determine the value of a property
once every three years and is defined as "January 1,
immediately before the 1st taxable year to which the assessment
based on the new value is applicable."
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Real Estate and Construction from United States
Chapter 1: The Bid
The Cromeens Law Firm
"I did not agree to do the electrical work. I never agree to do the electrical work." That's what Josh from Super Door Subcontractor told me after the general contractor on his community college project...
Construction Defects Coverage Update
Plunkett & Cooney
The U.S. Court of Appeals for the Eleventh Circuit determined that an insurer had a duty to defend its insured on the basis that, at the time the insured requested a defense...
AI Applications And Risks In Construction
HKA
In July 2023, the Construction Management Association of America hosted a webinar discussing the merits and use of artificial intelligence (AI) in construction.