Assessment Shows ‘Modest Increase’ In Worcester Property Values

SNOW HILL — The state Department of Assessment and Taxation (SDAT) this week announced the reassessment of one-third of the residential and commercial properties across Maryland, including parts of Worcester and Wicomico, showed their largest increases in value since the 2008 real estate collapse.

Each year, SDAT officials assess the property values of one-third of the residential and commercial properties across the state on a rotating basis in order to determine their assessed values. Locally, Group 2 in Worcester County was reassessed, including much of the south end of the county including Snow Hill, Pocomoke and Newark, for example. Also included in Group 2 in Worcester is much of West Ocean City and all commercial properties in the south end along with commercial properties in Berlin.

The Group 2 reassessment figures released by SDAT this week revealed both residential and commercial properties saw their values increase this year for the first time in many years. In Worcester, the total cash value of all of the residential properties reassessed came in at $2.16 billion compared to $2.06 billion the last time the group was reassessed in 2014, representing an increase of 4.6 percent.

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