Property values in Maryland rose for the fourth year in a row but, remain below those before the housing crash.
In the past three years the home values in Maryland’s metro area rose approximately 6.4 percent, according to the State Department of Assessments and Taxation.
Residential home values continue to recover slowly, however, commercial values increased approximately 14 percent according to the new assessments, and hopefully this is a reflection of economic growth.
The gains were strongest in the metro areas in counties around Washington and Baltimore. The more rural areas like the Eastern Shore did not increase and in some cases the assessed values declined. It is supply and demand, the Eastern Shore does not have the work force as in and around the metro areas, which require work force housing. Much of the Easton shore is retired semi-retired or second homes.