Baltimore City is $14,026.32 less poor thanks to developer Blake Cordish. That’s how much he paid after the state fixed a three-year-old error that vastly undervalued his Federal Hill mega-rowhouse.
The payment, made on the Ides of March, covers additional property taxes for the past three years on his 4,600-square-foot home on East Montgomery Street.
As The Baltimore Sun reported in January, the state Department of Assessments and Taxation erred when it reassessed his home in 2009. Cordish’s home was formed by combining three rowhouses, but the state agency based the overall new value on the footprint of just one of the three homes.
After inquiries from The Sun, the agency revised the assessment retroactively from around $550,000 to just over $1 million. That in turn triggered the city to send the revised tax bills that he paid last month.
Cordish, an executive withthe Cordish Cos.and son of prominent developer David Cordish, has said he was unaware of any problem with his assessment and always paid whatever amount appeared on his city tax bill. He did not reply to an email sent Thursday.
The Sun later identified a second instance where the state dramatically undervalued a Baltimore home after a consolidation. Owen C. Charles, deputy director of the assessments agency, says his staff is continuing to review several hundred lot combinations in the city to ferret out any other errors.Copyright © 2014, The Baltimore Sun