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With more than 70,000 assessment notices to residential property owners in the eastern half of Prince George's County, including homeowners in Laurel, Glenn Dale, Bowie and Upper Marlboro, going into the mail Dec. 27, the assessments are in — and values have dropped.

On average, assessed values have dropped between 30 and 35 percent in the Cycle 2 area, said Joseph Hensley, supervisor of assessments for Prince George's County, on Tuesday.

Every year the state Department of Assessments and Taxation reassesses home values for a third of the county property owners. The figures, including caps on yearly increases by various taxing authorities — such as the Maryland-National Capital Park and Planning Commission and the Washington Suburban Transit Commission — are used to determine property tax bills, which are scheduled to go out July 1.

The Cycle 2 area stretches from Laurel south through Bowie, Glenn Dale, Fairwood, Upper Marlboro and Brandywine, to the border with Charles County.

Hensley said the drop affected virtually all communities in the area, including Bowie, which historically has been less affected by declining home prices.

"Bowie is also down about 35 percent," he said. "They're right in line with the rest of the group."

Assessed values based on market prices continue to drop because of the recession, but that does not necessarily mean that everyone will pay less in taxes, Hensley said.

Tax bills will vary depending on how long residents have lived in their houses, where people live and the tax caps that apply in their jurisdictions. Typically, because of the Homestead Tax Credit, some property owners may not see lower tax rates if they've been in their homes for many years but have had their rates capped while property values increased.

Rob Patrick, finance director in Bowie, said he won't officially know until mid-February, when the state releases revenue estimates, to what degree the lower assessments will translate into less revenue from property taxes for fiscal year 2012 starting July 1.

"We're in uncharted waters here," said Patrick about the unprecedented nature of the recession and collapse of housing prices.

"Typically Bowie fares a little better and there are usually less decreases, but this is so unusual," he said.

vterhune@gazette.net