Cohousing-L Mailing List: Property Taxes on Common Property

[Thomas Lofft (tlofft]

In MD, all communities owning common property in the name of the Community 
Association are entitled to have the common property exempt from assessment and 
taxation in as much as the common property is never sold or purchased 
individually by any Seller or Purchaser of a home. The value of the community 
property is imputed as being a part of the value of the individual residences 
being sold and purchased by private parties.
 
If the common use property is retained in the private name of the developer or 
a partnership or corporation that is not a registered Community/Homeowners' 
Association, then it continues to be assessed and taxed as private property.
 
For example, if the community were to rent a home from a private owner and use 
the rented property as a common use property, the owner would have to pay local 
government and state property taxes. 
 
In any case, all expenses of the Community Association are budgeted for on an 
annual basis. The Community Association assessments are then levied against 
each individual property owner and payable as a monthly assessment. 

Tom Lofft
Liberty Village, MD

Date: Thu, 29 Mar 2012 20:34:56 -0600
From: "Shari Hirst" <sharihirst13 [at] gmail.com>
Subject: [C-L]_ Property Taxes on Common Property
To: "Cohousing-L" <cohousing-l [at] cohousing.org>
Message-ID: <BC21E43441B7474B95C2CB07FDC7AEEB@warmfeelings>
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ElderGrace in Santa Fe, NM, is wondering how other CoHousing communities handle 
property taxes on their Common buildings. Do you pay property taxes on Common 
buildings and how are they collected? Does your County divide it and charge 
each member for their share or does your County charge your HOA a separate 
bill? Thank you for your information. 
 
Shari Hirst
sharihirst13 [at] gmail.com 
ElderGrace CoHousing
Santa Fe, NM 87507