Shady Side, Maryland Property Taxes
The median property tax rate in Shady Side, MD is 1.09%, slightly higher than both the national median of 0.99% and Maryland's state median of 1.06%. With the median home value in Shady Side at $285,650, the typical annual property tax bill reaches $2,924, surpassing the national median of $2,690. Property taxes in Shady Side are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shady Side's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Shady Side or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shady Side, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$3,114
Ownwell’s Shady Side Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shady Side with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shady Side to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Shady Side, Maryland
Property taxes in Shady Side, Maryland, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Shady Side is 1.09%, higher than the U.S. national median of 0.99%. Local government entities within Shady Side set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shady Side estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Shady Side's effective property tax rate to other areas in Anne Arundel County and the national median. For comparison, the zip code 20764 has both the highest and lowest median property tax rate of 1.09%. Understanding how these areas compare with Shady Side provides valuable insights into the varying tax landscape across Anne Arundel County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shady Side Tax Rate
1.09%
Average Anne Arundel County Tax Rate
0.97%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shady Side, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20764 | 0.79% | 0.91% | 1.09% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Shady Side, Maryland
In Shady Side, Maryland, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Anne Arundel County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Shady Side, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Shady Side helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Shady Side are both $2,924, found in zip code 20764.
Property Tax Assessment Values Across Shady Side, Maryland
Source: Ownwell
$224,750
$1,053,975
$1,883,200
Average Shady Side Assessed Value
$285,650
Average Anne Arundel County Assessed Value
$376,600
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shady Side, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20764 | $208,050 | $241,550 | $285,650 | $383,250 | $571,800 |
Source: Ownwell
Property Tax Bills Across Shady Side, Maryland
In Shady Side, located in Anne Arundel County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $285,650, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $2,395, while the 75th percentile tax bill reaches up to $4,018, and those in the 90th percentile can see bills as high as $5,898. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in Shady Side should be aware that their property tax bills can have a substantial impact on their annual expenses. Compared to the national median property tax rate of 0.99%, the rates in Shady Side reflect the local government's need to fund public services and infrastructure. Understanding these factors can help homeowners better manage their finances and anticipate their tax liabilities.
Average Shady Side Tax Bill
$2,924
Average Anne Arundel County Tax Bill
$3,553
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Shady Side, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20764 | $1,994 | $2,395 | $2,924 | $4,018 | $5,898 |
Source: Ownwell