“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 [...]]]> 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 –

http://mdcoastdispatch.com/articles/2011/12/02/Top-Stories/15-Decrease-In-Property-Values-Reported-In-OC

“For about two years, the resort’s Planning Department has discussed the possibility of reducing the number [...]]]> Ocean City Today reported on Friday about a restructuring of the zoning rules being considered by the City Council of Ocean City, Maryland. The proposed change would modify the current rules for residential development on commercially zoned properties:

“For about two years, the resort’s Planning Department has discussed the possibility of reducing the number of residential units a property owner can build on a site with a commercial zoning designation. The goal was to encourage more commercial development in town and to reverse the practice of putting condominiums on commercial land. That approach peaked during the real estate boom and gobbled up a large amount of commercial property.

The resort’s comprehensive plan calls on city officials to encourage more commercial growth within town boundaries so residents will not have to travel out of town to go shopping or visit other businesses. In February, the Planning and Zoning Commission recommended the city do that by reducing the number of residential units that could be built on commercial properties.”

The full article-

http://www.oceancitytoday.net/news/2010-05-07/Front_Page/MORE_OC_COMMERCIAL_PROPERTIES.html

“An attempt to recoup about half a million dollars for the tight Worcester County budget next fiscal year by reducing the discount for early payment of property taxes to half a [...]]]> The Maryland Coast Dispatch is reporting the latest non-tax-increase tax increase this week proposed at the meeting of the Worcester County Maryland Commissioners:

“An attempt to recoup about half a million dollars for the tight Worcester County budget next fiscal year by reducing the discount for early payment of property taxes to half a percent will wait until other budget trimming measures are considered.

“I just think it’s a back-door tax increase,” said Commissioner Louise Gulyas. “We said we’re not going to raise taxes. This is a tax increase any way you look at it.”

Commissioner Bobby Cowger said the reduction is a good idea proposed at a bad time. “Cutting that is like raising taxes,” Cowger said.

Commissioner Judy Boggs liked the proposal, particularly in light of home values declining throughout the county.

“I think it’s a prudent way to go,” said Boggs. “They’ll be paying less because they have lower assessments.”

The full article –

http://www.mdcoastdispatch.com/article.php?cid=30&id=8065