Buying Your Home - Property Taxes
Property taxes are a fact of Home ownership
They affect your monthly payment if paid in 12 equal payments. Your mortgage company may require you to escrow this money each month and they will pay the tax when due.
Are taxes on second homes deductible?
Mortgage interest and property taxes may be deductible on a second home. Check with your accountant or tax adviser for specifics before your purchase.
Are property taxes deductible?
Currently in Maryland the answer is yes but only if your itemize on your tax returns.
Where can I learn more about appealing my property taxes?
In Maryland there is a 60 day period following your property settlement to file for a review of tax assessment based on you closing document. Contact your local tax assessor's office to see what procedures to follow to appeal your property tax assessment.