HAGERSTOWN – Property values in Washington County and across Maryland continued to increase in the latest round of assessments, though at a slower pace than in recent years, offering some relief to housing affordability amid ongoing state and local tax credit programs.
The state Department of Assessments and Taxation completed its 2026 reassessment of 789,178 residential and commercial properties statewide, with notices mailed recently.
Maryland has more than 2 million property accounts divided into three geographic groups, with the state agent reassessing each group every three years on a rotating cycle to ensure valuations reflect current market conditions.
The properties in this reassessment make up roughly one-third of all accounts statewide, including specific areas in Washington County, such as Hagerstown, Halfway and Maugansville, that are being updated this year.
All 23 counties, including Washington and Baltimore City, saw increases in property values. Overall, 92.7% of the residential properties reassessed experienced a value increase.
The statewide average increase for reassessed properties was 12.7%, based on an evaluation of 57,543 sales. Residential properties rose an average of 13.2%, while commercial properties increased 11% over the three-year period since the last reassessment.
This moderation marks a significant slowdown compared with previous cycles, which saw statewide increases of 20.1% last year and 23.4% in 2023.
Assessment agency director Bob Yeager described the trend as a move toward sustainability.
“Property values are still rising, but at a more sustainable pace,” Yeager said. “After the rapid increases seen during the post-COVID recovery, this moderation is an important step toward balancing household wealth growth with housing affordability.”
State officials said Gov. Wes Moore’s administration has emphasized housing support, with funding for the Homeowners’ Property Tax Credit program growing from $48.6 million in fiscal year 2023 to $62.4 million in 2024 and $63.9 million in 2025.
The program provides targeted relief to low-income homeowners by capping annual property taxes based on income, requiring annual applications.
For principal residences, the Homestead Tax Credit limits increases in taxable assessment. State law caps the annual rise at 10%, but Washington County has adopted a stricter 5% cap. Homeowners must submit a one-time application to qualify.
Any increase in assessed value will be phased in evenly over the next three years to ease the impact, while decreases take full effect immediately in the 2026 tax year.
County officials urged property owners to review their notices carefully, which detail old and new market values and potential tax credits. Owners who believe the new assessment does not reflect true market value may file an appeal with the state agency within 45 days of receiving the notice.
For more information on tax credits and assistance, residents can visit the agency’s Maryland Property Tax Credit Programs webpage.
