Every year, the Maryland Department of Assessments and Taxation (SDAT) is tasked with reassessing one-third of all commercial properties in the state. In the year prior to the reassessment, SDAT is required to obtain income and expense information from the property owner. The information allows the assessor to determine the value of the property using an income approach. This approach determines value by taking gross income (e.g., rent, CAM reimbursements and other income), applying a vacancy rate and deducting property-related expenses such as maintenance, repairs, utilities, insuran ... read more →