Ahead of the Curve: Has Your Maryland Business Been Financially Impacted by COVID-19?
Selzer Gurvitch can help file your mid-cycle appeal and get you financial relief. But hurry, because you have just 5 weeks left.
By Jessica D. Lieberman, Esq.
Counsel at Selzer Gurvitch Rabin Wertheimer & Polott, P.C.
December 1, 2020
As the COVID-19 pandemic continues to affect every part of life, taxes are certainly no exception for business owners. When it comes to real property tax assessments, it’s important to understand how the pandemic can affect your business, especially if you have been financially impacted.
Financial relief for businesses can come in many forms, and due to economic losses related to the coronavirus, real property assessment reductions may be another form of relief you should consider. Selzer Gurvitch may be able to help you obtain property assessment reductions based on a comprehensive assessment review.
What can be done during the pandemic?
Petitions for Review (AKA “Mid-Cycle Appeals”)
If events have occurred since the last assessment that have caused a Maryland property to decline in value, a Petition for Review can be filed. This is a mid-cycle appeal. A Petition for Review must be filed by the first business day after January 1. That means that this year, the deadline is January 4, 2021.
In the current economic climate, a Petition for Review can be a worthwhile tool to reduce assessments, and thus taxes, especially for commercial property owners. For instance, for those commercial property owners with tenants who have failed to pay rent or have vacated the premises, thus causing a decline in the income of the property, a Petition for Review may be warranted.
Let Selzer Gurvitch help.
We can assist you with filing your assessment appeals and Petitions for Review in Maryland. But you have to hurry, because you have just 5 weeks left until the January 4 deadline. We invite you to contact one of our real estate taxation attorneys below to discuss your needs.
Disclaimer: The information contained in this material is not intended to be considered legal advice and should not be acted upon as such. Because of the generality of this material, the information provided may not be applicable in all situations and should not be acted upon without legal advice based on the specific factual circumstances.