Tue January 15, 2013
Property Assessments Drop in Wicomico County
Residents of Wicomico County saw their property assessments drop by as much as 20 percent.
That’s compared to a seven percent fall for the statewide average.
Within the one-third of the county properties receiving reassessments 94 percent saw their home values decline.
The upside is that homeowners should see their property taxes do down at least for the first year.
The Salisbury Daily Times reports that the county is expected to readjust the property tax rate to get the maximum amount of money under the revenue cap.