Dunkirk, Maryland Property Taxes
The median property tax rate in Dunkirk, MD is 0.93%, slightly lower than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Dunkirk at $492,400, the typical annual property tax bill reaches $4,546, far surpassing the national median of $2,690. Property taxes in Dunkirk are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dunkirk'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 Dunkirk 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
Dunkirk, Maryland Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,120
Ownwell’s Dunkirk Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunkirk with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunkirk 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 Dunkirk, Maryland
Property taxes in Dunkirk, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunkirk is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Dunkirk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunkirk 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 Dunkirk's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 20754 has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Dunkirk provides valuable insights into the varying tax landscape across Calvert County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunkirk Tax Rate
0.93%
Average Calvert County Tax Rate
1.01%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunkirk, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20754 | 0.89% | 0.92% | 0.93% | 0.94% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Dunkirk, Maryland
In Dunkirk, 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 Calvert 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 Dunkirk, 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 Dunkirk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dunkirk is $492,400, with tax bills ranging from $3,790 at the 25th percentile to $7,222 at the 90th percentile. The highest and lowest median tax bills are both $4,546 in the 20754 zip code.
Average Dunkirk Assessed Value
$492,400
Average Calvert County Assessed Value
$346,200
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunkirk, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20754 | $336,300 | $404,200 | $492,400 | $634,300 | $794,660 |
Source: Ownwell
Property Tax Bills Across Dunkirk, Maryland
In Dunkirk, MD, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county and reflects the market value of your property. Once the assessed value is established, it is multiplied by the local tax rate to determine your annual property tax bill. For instance, in Dunkirk, the median home price is $492,400. The property tax rate in Dunkirk results in a median tax bill of approximately $4,546, which aligns with the highest and lowest median tax bills recorded in the 20754 zip code. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, thereby affecting your tax bill. Homeowners in Dunkirk might see tax bills ranging from $3,790 at the 25th percentile to $7,222 at the 90th percentile. Compared to the national median property tax rate of 0.99%, Dunkirk's property tax bills can be relatively high, impacting homeowners' annual expenses significantly.
Average Dunkirk Tax Bill
$4,546
Average Calvert County Tax Bill
$3,494
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunkirk, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20754 | $3,218 | $3,790 | $4,546 | $5,752 | $7,222 |
Source: Ownwell