Stoney Beach, Maryland Property Taxes
The median property tax rate in Stoney Beach, MD is 1.07%, slightly above both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $252,600 in Stoney Beach, the typical annual property tax bill reaches $2,639, exceeding the national median of $2,690. Property taxes in Stoney Beach are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stoney Beach'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 Stoney Beach 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
Stoney Beach, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,703
Ownwell’s Stoney Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stoney Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stoney Beach 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 Stoney Beach, Maryland
Property taxes in Stoney Beach, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stoney Beach is 1.07%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Stoney Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stoney Beach 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 Stoney Beach's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21226 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these areas compare with Stoney Beach 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 Stoney Beach Tax Rate
1.07%
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 Stoney Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21226 | 0.88% | 1.01% | 1.07% | 1.07% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Stoney Beach, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stoney Beach, Maryland. 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 Stoney Beach, 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. The median home price in Stoney Beach is $252,600, with property tax bills ranging from $2,436 at the 25th percentile to $3,541 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 21226, with a median tax bill of $2,639. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Stoney Beach, Maryland
Source: Ownwell
$224,750
$1,053,975
$1,883,200
Average Stoney Beach Assessed Value
$252,600
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 Stoney Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21226 | $218,880 | $239,150 | $252,600 | $277,750 | $332,160 |
Source: Ownwell
Property Tax Bills Across Stoney Beach, Maryland
In Stoney Beach, property tax bills are calculated based on the assessed value of a home, which is determined by the Anne Arundel County tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $252,600, homeowners in Stoney Beach can expect property tax bills to vary. The 25th percentile tax bill is around $2,436, while the 75th percentile tax bill is approximately $2,864. At the higher end, the 90th percentile tax bill can reach up to $3,541. Comparing these figures to the national median property tax rate of 0.99%, it's evident that homeowners in Stoney Beach may face higher property tax bills. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Stoney Beach Tax Bill
$2,639
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 Stoney Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21226 | $2,159 | $2,436 | $2,639 | $2,864 | $3,541 |
Source: Ownwell