What does "Subject to MSBD Tax" mean?

By
Real Estate Agent with Coldwell Banker Residential Brokerage

What does "Subject to MSBD Tax" mean?

If you live in midtown Baltimore or north of downtown, then you already know what MSBD is.  But, if you don't and you are thinking about moving to the city, then you might have read "subject to MSBD tax" in listing remarks and wonder what it means.  MSBD is short for Maryland Special Benefits District, also known as a Community Benefits District in the City of Baltimore.

There are two special Community Benefits Districts within Baltimore City.  Properties within the boundaries of these districts are levied an additional tax surcharge which covers the additional safety, sanitation and other services within these districts.

Midtown Community Benefits District

The first of the Special Benefits Districts is the Midtown Community Benefits District which includes Bolton Hill, Charles North, Madison Park and Mount Vernon/Belvedere.

The Midtown Community Benefits District is a community organization dedicated to making the neighborhoods of Bolton Hill, Charles North, Madison Park, and Mount Vernon-Belvedere cleaner, safer and more attractive by supplementing municipal services.

The Midtown Community Benefits District is a citizen-run neighborhood advocacy and improvement group authorized by law in 1996 to provide security and sanitation services along with promotional activities for a 150-block area.

Its efforts are funded by taxpayer approved property tax surcharge. Midtown was created by voter referendum in an effort to make our neighborhoods stronger, better places to live and work.

The surcharge is calculated in the same way as the annual property tax.  The assessment is $0.132 per $100 of the property value.  If you live in an MSBD designated area you will receive a sperate bill for the surcharge on your property.

Charles Village Community Benefits District

The second of the Special Benefits Districts is the Charles Village Community Benefits District which includes the neigborhoods of Abell, Charles Village, Harwood, and Old Goucher.

Charles Village Community Benefits District is a special tax district created in 1994 to provide supplementary services to residents in a 100-block area of north Baltimore.

The Benefits District provides supplementary sanitation and safety services to all residents and promotes the District as an attractive place to visit, live, work and play.

The tax rate for the Charles Village Community Benefits District is $0.12 per $100 of assessed property value. More information, including district boundaries, can be found at www.charlesvillage.org.

Batlimore Property Taxes and Community Surcharges Online

If you're thinking about moving to Bolton Hill it's always good to research the actual tax records for any property your considering purchasing.  For example the MLS (the "multiple listing system") listing sheet for the home at 1833 Bolton Street states that the property taxes are $9,196 when in actuality the current tax assessment is $10,741.87.  While the difference doesn't seem like a big deal at first glance, when you add the $598.62 surcharge for being in an MSBD district, the actual difference between what's stated in the MLS and what's reported on the Baltimore goverment website, the delta translates into more money out of your pocket each month.  By-the-way, all MLS listing sheets state at the bottom that the information is deemed reliable but should not be relied upon!  So, do you homework by checking these two online resources provided by the City of Baltimore:

Pay or review Baltimore MSBD Tax by address at Special Benefit District Surcharge.

Pay or review Baltimore Property Taxes online at Real Property.

What does "Subject to MSBD Tax" mean?

Posted by

Stephen Howell, Sales Associate, Coldwell Banker Residential Brokerage, Annapolis, MarylandIf you are interested in buying a home in Annapolis, Maryland or the surrounding area and want to tour any property currently on the market, or if you have a home to sell in Annapolis, Maryland and want a professional consultation on current market conditions, please contact Stephen Howell at 443-994-8043 or e-mail him at showell@liveinannapolis.com or visit his website at LiveInAnnapolis.com.

Stephen Howell came to Annapolis to enjoy the Chesapeake bay in 1994. What he discovered was a whole new lifestyle. Ever since Stephen Howell has been successfully helping others make the most of Annapolis, Maryland. You'll find that with the right professional by your side, you can Live the lifestyle and live, work and play in Annapolis Maryland.

Stephen Howell and Jackson (his hound-mix from the HSSC) maintains residences on the Chesapeake Bay in Annapolis, Maryland and Gulf Coast in Sarasota, Florida. He works in the Annapolis, Maryland real estate market. His website lets people search the Annapolis Maryland area MLS. Buyers can also search for waterfront homes along the Cheasapeake Bay. His website has current real estate data on Annapolis, Maryland.

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Rainer
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Daniel H. Fisher
www.FisherHermanRealty.com (704) 617-3544 - Charlotte, NC
MCRP - Charlotte Real Estate, NC or SC

We have special taxes in some areas of Charlotte, NC also.  Usually these cover schools, special fire districts, special water districts, etc.  BankRate has a good summary of property, income and other North Carolina and South Carolina taxes at http://www.bankrate.com/taxes.aspx Maryland taxes are also summarized

Jun 14, 2011 08:41 AM #1
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Rainmaker
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Stephen Howell

Annapolis MD Homes For Sale 443-994-8043
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