By: Mike Kennedy mkennedy@railey.com 301-616-6106 April 20th, 2009 Category: Deep Creek Lake Real Estate, Garrett County Real Estate, News

The Garrett County Commissioners are seeking to increase real estate property taxes in all of Garrett County and the Deep Creek Lake area by a total of more than $2,000,000 for the next fiscal year starting on July 1, 2009. This proposal will be accomplished by setting a real property tax rate that is above the constant yield rate.

The current assessment system in Maryland provides that as property assessments rise the real property tax rate can be reduced so that the money derived from annual real estate taxes stays at a constant level from year to year - thus assuring a constant yield of revenue from annual real estate taxes.

State of Maryland law requires that the county hold a public hearing if it intends to raise the real property tax rate above the constant yield rate. The public hearing for this proposal is scheduled for tomorrow April 21, 2009 at 10:00 am in the Garrett County Commissioners public meeting room.

Since most second and vacation homeowners are not in the area mid-week - and especially during this time of the year - it’s a safe assumption that nearly all absentee property owners in the Deep Creek Lake area won’t be able to attend this meeting. If you can’t attend you can still e-mail your comments and opinions to all 3 county commissioners.

Commissioner Glotfelty - dglotfelty@garrettcounty.org

Commissioner Gregg - countycommissioners@garrettcounty.org

Commissioner Holliday - fholliday@garrettcounty.org

We would still like to see the county make some type of accommodation or come up with a better system when it comes to scheduling public meetings that have an affect on the largest portion of the tax base - which are the highest assessed properties in the county located in the Deep Creek Lake area. The county continues to schedule important meetings during mid-week when nearly all of these second and vacation homeowners simply can’t attend such a meeting. Back in 2002 and 2003 the public hearings for the proposed Transient Vacation Rental Unit (TVRU) ordinances were held mid-week when most vacation rental homeowners could not attend.

If you are concerned about your current tax assessment on your Deep Creek Lake house or Garrett County property, please give us a call or drop us a line. Maryland does have a process in place if you would like to dispute your current assessment.

(Paul Durham contributed to this post)

By: Mike Kennedy mkennedy@railey.com 301-616-6106 April 10th, 2008 Category: Deep Creek Lake Real Estate

In 2007, Deep Creek Lake area properties south of the Rt. 219 bridge were reassessed. In 2008, the lake area properties north of the Rt. 219 bridge will be reassessed - this will include those of you who own property along Marsh Hill Road, atop Wisp Ski Resort, Deep Creek Drive, Lakeshore Drive, Stockslager Road, Shingle Camp Road, and Sandy Beach to name but a few neighborhoods. In 2009, all other areas of Garrett County will be reassessed.

Below are the average increases reported by the Assessors Office from their 2007 assessment;

• Lakefront Land                                                                  12%
• Lakefront w/Improvements (meaning it has a house)       33%
• Lake Access Land                                                              36% 
• Lake Access w/Improvements                                           42%
• Lake Influence Land (meaning it has just a lake view)      36%
• Lake Influence w/Improvements                                       40%
• Deep Creek Condos and TownHomes                               22%     

The Assessors Office uses the prior 12 months of actual sales as the basis of their assessments. However, when viewing these numbers keep in mind the increases are shown over a three year period since the last reassessment in 2004 - which was right in the middle of a very strong real estate market here at Deep Creek Lake.

These reassessments conducted in 2007 became effective January 1, 2008 and will be the basis for the tax bills that will be sent out on July 1, 2008. Also, these assessment increases are phased in over 3 years at 1/3 of the increase per year. However, if you are permanent resident of Garrett County the Homestead Credit Law now limits any property tax increase to just 5% - something very beneficial to those who qualify.