Marydel, Maryland Property Taxes
The median property tax rate in Marydel, MD is 1.07%, slightly higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Marydel, the typical annual property tax bill reaches $1,749, which is below the national median of $2,690. Property taxes in Marydel 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 Marydel'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 Marydel or another part of Caroline County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marydel, 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 Marydel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marydel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marydel 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 Marydel, Maryland
Property taxes in Marydel, MD, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marydel is 1.07%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Marydel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marydel 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 Marydel's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21649 zip code has the highest median property tax rate of 1.07%, while the 19964 zip code has the lowest median tax rate of 1.03%. Understanding how these cities compare with Marydel provides valuable insights into the varying tax landscape across Caroline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marydel Tax Rate
1.07%
Average Caroline County Tax Rate
1.08%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marydel, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19964 | 1.02% | 1.02% | 1.03% | 1.04% | 1.04% |
| 21649 | 1.00% | 1.06% | 1.07% | 1.09% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Marydel, Maryland
In Marydel, 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 Caroline 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 Marydel, 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 Marydel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $163,450, with the highest median tax bill being $4,420 in zip code 19964 and the lowest median tax bill being $1,748 in zip code 21649.
Average Marydel Assessed Value
$163,450
Average Caroline County Assessed Value
$216,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marydel, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19964 | $354,750 | $383,325 | $430,950 | $478,575 | $507,150 |
| 21649 | $86,730 | $115,700 | $163,050 | $205,425 | $266,540 |
Source: Ownwell
Property Tax Bills Across Marydel, Maryland
In Marydel, Caroline County, MD, property tax bills are calculated based on the assessed value of your home, not the market value. The local tax rate is applied to the assessed value to determine the tax bill. Factors influencing the tax bill include the home's assessed value, which is periodically updated, and the local tax rate set by the county. For example, with a median home price of $163,450, homeowners can expect a property tax bill ranging from $1,345 at the 25th percentile to $2,887 at the 90th percentile. This variability highlights how different factors such as property improvements or neighborhood changes can impact the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Marydel experience varying tax burdens, with some paying higher amounts due to local assessments and rates. Understanding these factors is crucial for homeowners to anticipate their financial obligations and plan accordingly.
Average Marydel Tax Bill
$1,749
Average Caroline County Tax Bill
$2,469
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Marydel, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19964 | $3,698 | $3,969 | $4,420 | $4,871 | $5,142 |
| 21649 | $994 | $1,345 | $1,748 | $2,153 | $2,830 |
Source: Ownwell