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Maryland
Data Shows That Prince George’s County Leads All Maryland Counties in Property
Value Increase – by
Seyi Oduyela
According to Real Estate assessment information released on Monday December 31,
2007 by the Maryland State Department of Assessment and Taxation, the value of
real estate in Prince George's County rose at a higher rate than any other
Maryland county.
The state reported that during the current property assessments, the value of
property increased 51.6 percent in Prince George's County while
the statewide average was 33.2 percent. Only Baltimore City had a higher
property value increase, with 75.0 percent, during the current assessment
period.
"This shows that Prince George's County is a good investment. People realize
this is the place to live and work," said County Executive Jack Johnson.
The state assessment report
said that the value of residential property increased 48.9 percent and the value
of commercial property rose 64
percent. Since Johnson was first elected as county executive overall assessment
increases in the county have gained at least 32.8 percent,
the state reported.
Johnson said the county's
demand for high quality development has improved property values throughout the
county. Additionally, student
performance increases, crime reduction efforts and investments in the county
infrastructure has also improved property values.
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