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Maryland issues new property assessments, with average growth for homes of 6.4 percent

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Maryland issues new property assessments, with average growth for homes of 6.4 percent

Property values in Maryland rose for the fourth year in a row in the new assessments released Wednesday by the state but remain below those recorded before the housing crash.

Home values in Maryland rose an average of 6.4 percent over the last three years, according to the most recent evaluations, which the State Department of Assessments and Taxation mailed to more than 750,000 commercial and residential property owners on Wednesday.

While home values continue to recover slowly, commercial values leapt about 14 percent in the new assessments, reflecting business activity spurred by economic growth.

About 71 percent of residential properties included in this round saw assessments increase, continuing an upswing that started in 2013. The gains were strongest in counties near Washington and Baltimore, while assessments in more rural areas, like the Eastern Shore, showed little change and, in some cases, declined.