Property Tax Lawyers in Germantown
The government of Germantown, Maryland requires most individuals who own real property to pay taxes on its value. "Real property" refers to land and buildings, as well as anything else which is permanently fixed to a piece of land, including trees, oil, groundwater, minerals, and the like.
Germantown, Maryland calculates property taxes simply by taking a percentage of the property's value. Usually, they are paid on a yearly or monthly basis.
Usually, the federal government does not collect property taxes anywhere in the U.S. Property taxes are gathered almost always by state and local authorities.
How Property Tax is Calculated in Germantown, Maryland
Property tax in Germantown, Maryland almost exclusively takes the form of a tax levied on the appraised value of the property in question. Property tax rates in the U.S. range from 0.2% to around 5% of the property's value.
To collect the property tax in a fair and consistent manner, Germantown, Maryland tax authorities need to have an objective formula for deciding the value of land under its jurisdiction.
Value is subjective in many respects. The home that you grew up in is likely worth more to you than its going market rate. So, to ensure that property taxes are fair and uniform, tax collectors have to use purely objective factors when appraising property.
With that in mind, the land appraisers in Germantown, Maryland look at different factors, including the state of the local real estate market, the square footage of the house, and the permissible use (zoning) of the land.
How A Germantown, Maryland Property Tax Attorney Can Help.
The property tax system in Germantown, Maryland can get pretty perplexing. There are numerous reasons why you might run into a legal dispute regarding your property tax. For instance, you may believe that the appraised value of your property was too high, increasing your tax burden unjustly. Or, the state might accuse you of failing to pay your property tax.
If you encounter a legal issue with your Germantown, Maryland property taxes, and don't handle it properly, unnecessary inconvenience and expense can result. If you have the advice of a competent tax attorney in Germantown, Maryland, however, the odds of encountering such a problem will be small.