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Developer-owned townhomes at the Pier Homes community, built on piers in the Inner Harbor, had until July been taxed at $476 apiece. The assessed values were $20,000 each.
The Pier Homes' developer successfully argued in a 2009 appeal that the homes weren't close enough to complete for tax values to be put on the new construction. The townhomes didn't have certificates of occupancy from the city, unlike the Ritz and Silo Point condos. But the city has since issued its approval for people to live in the three homes the developer still owns -- one in 2010, one in 2011 and the last in 2012.
The state just changed the assessed values. They now range from $415,000 to $506,000.
January 4, 2012