The Maryland Coast Dispatch had an article Friday reporting another decline in the taxable value of Ocean City Maryland property values:
“According to Robert Smith, director of the State Department of Assessment and Taxation (SDAT) for Worcester County, most residential property owners in Ocean City will see their values decline by an average of 12 to 15 percent since the last reassessment three years ago.”
“The values are continuing downward as expected, but maybe not as much as the last three years,” said Smith this week. “The angle of decline is less steep than it was. We saw residential property values in the county decline by as much as 17 to 20 percent over the last few years, but Ocean City’s average decline this time around is coming in at 12 to 15 percent.”
The full article –
