Prince George's County Officials Tout Rising Property Values | NBC4 Washington

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Prince George's County Officials Tout Rising Property Values

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    Prince George's County Officials Tout Rising Property Values
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    What to Know

    • New assessments show 14 percent increase in commercial property values and a 12 percent increase in residential property values.

    • The recently reassessed properties are mostly located in wealthier areas, such as Laurel, Bowie and Upper Marlboro.

    Property values in some parts of Prince George's County are rising faster than in the rest of the state, county officials say.

    County Executive Rushern Baker's office said assessments released this week show a 14 percent increase in commercial property values and a 12 percent increase in residential property values in Prince George's.

    The reassessed properties are mostly located in wealthier portions of the county outside the Capital Beltway, including the communities of Laurel, Bowie and Upper Marlboro.

    The new tax rates take effect Jan. 1.

    Baker said in a statement that raising property values has been one of the key goals of his administration.

    Prince George's County is the nation's wealthiest majority-black jurisdiction.