Bill > HB1088

This bill allows a county or municipal corporation to challenge the assessed value of commercial real property if it has recently been sold. Specifically, if a piece of commercial real estate is sold and the new sale price is at least 20% higher than its previous sale price, the local government can file a "petition for review" to appeal the property's value. This petition is filed with the "supervisor," likely referring to a tax assessor or similar official, and must be submitted by the "date of finality" for the next taxable year, which is a deadline for property tax assessments. The bill also mandates that the Department of Assessments and Taxation will establish procedures to implement this new provision, which is set to take effect on October 1, 2026.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1088?ys=2026RS