Reisterstown, Maryland Property Taxes
The median property tax rate in Reisterstown, MD is 0.98%, slightly below the state median of 1.06% but still close to the national median of 0.99%. With a median home value of $414,700, the typical annual property tax bill in Reisterstown reaches $4,017, significantly higher than the national median of $2,690. Property taxes in Reisterstown 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 Reisterstown'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 Reisterstown or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reisterstown, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$4,064
Ownwell’s Reisterstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reisterstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reisterstown 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 Reisterstown, Maryland
Property taxes in Reisterstown, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reisterstown is 0.98%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Reisterstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reisterstown 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 Reisterstown's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21136 zip code has the highest median property tax rate of 0.98%, while the same zip code also has the lowest median tax rate of 0.98%. Understanding how these areas compare with Reisterstown provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reisterstown Tax Rate
0.98%
Average Carroll County Tax Rate
1.10%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reisterstown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21136 | 0.91% | 0.95% | 0.98% | 1.00% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Reisterstown, Maryland
In Reisterstown, 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 Carroll 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. Assessment notices in Reisterstown 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. Reisterstown's highest and lowest median tax bills are both $4017 in the 21136 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Reisterstown Assessed Value
$414,700
Average Carroll County Assessed Value
$347,000
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reisterstown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21136 | $341,380 | $367,400 | $414,700 | $536,250 | $651,940 |
Source: Ownwell
Property Tax Bills Across Reisterstown, Maryland
In Reisterstown, located in Carroll County, MD, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. Homeowners in Reisterstown face property taxes that can vary significantly, with tax bills ranging from $3,516 at the 25th percentile to $6,644 at the 90th percentile. The median home price in the area is $414,700, leading to a median tax bill of approximately $4,017, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure maintenance. For homeowners, this means that while higher property taxes can be a financial burden, they also contribute to maintaining and improving the quality of life in the community. Understanding how these taxes are calculated helps homeowners better anticipate their annual expenses and plan accordingly.
Average Reisterstown Tax Bill
$4,017
Average Carroll County Tax Bill
$3,882
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Reisterstown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21136 | $3,213 | $3,516 | $4,017 | $5,198 | $6,644 |
Source: Ownwell