Homeownership is often a sign of financial security and success. A home’s growing value is often how many families build wealth they can pass along to their children.
But a significant gap exists between the valuation of homes owned by Black homeowners and white homeowners, even for comparable properties. Government and commercial housing industry assessments and appraisals often misevaluate the value of properties and homes owned by Black residents.
According to a December 2022 report to the Maryland Department of Housing and Community Development compiled by the University of Maryland’s National Center for Smart Growth, the state’s tax assessment process consistently leads to higher assessments for properties in Black neighborhoods, and that leads to higher taxes for Black homeowners than white owners.
And there have been several high-profile cases of home appraisals seemingly skewed by racial bias.
Our guest Aja’ Mallory wrote about these challenges in a recent editorial for our news partner, The Baltimore Banner. She is a Senior staff attorney at the Maryland Volunteer Lawyers Service.
We also spoke with members of the Maryland Task Force on Property Appraisal and Valuation Equity, recently created to study the persistent undervaluation of property owned by minorities and find possible solutions.
Jacqulyn Priestly chairs the task force. She also works as a communication specialist at the public relations firm Oak Hill Strategies.
Greg Hare is a member of the task force and Assistant Secretary of the Community Development Administration at the Maryland Department of Housing and Community Development.
(Photograph by Eli Pousson, via Wikimedia Commons.)
