Union Bridge, Maryland Property Taxes
The median property tax rate in Union Bridge, MD is 1.13%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Union Bridge, the typical annual property tax bill reaches $2,811, exceeding the national median of $2,690. Property taxes in Union Bridge 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 Union Bridge'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 Union Bridge 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
Union Bridge, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$2,617
Ownwell’s Union Bridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Union Bridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Union Bridge 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 Union Bridge, Maryland
Property taxes in Union Bridge, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union Bridge is 1.13%, higher than both the Maryland state median of 1.06% and the U.S. national median of 0.99%. Local government entities within Union Bridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union Bridge 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 Union Bridge's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21791 zip code has the highest median property tax rate of 1.13%, while the same 21791 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Union Bridge 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 Union Bridge Tax Rate
1.13%
Average Carroll County Tax Rate
1.10%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union Bridge, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21791 | 1.13% | 1.13% | 1.13% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Union Bridge, Maryland
In Union Bridge, 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. In Union Bridge, 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 Union Bridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Union Bridge are both $2811, found in the 21791 zip code.
Average Union Bridge Assessed Value
$231,600
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 Union Bridge, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21791 | $141,720 | $180,600 | $231,600 | $301,600 | $377,180 |
Source: Ownwell
Property Tax Bills Across Union Bridge, Maryland
In Union Bridge, property tax bills are calculated based on the assessed value of a home, which is determined by the Carroll County assessor's office. The assessed value is a percentage of the market value of the property. For homeowners in Union Bridge, the median home price is $231,600. Property tax rates in this region are applied to the assessed value to determine the tax bill. The tax bill can vary significantly depending on the assessed value and specific tax rates. For example, the 25th percentile tax bill is $2,294, while the 75th percentile tax bill is $3,541, and the 90th percentile tax bill reaches $4,305. These figures illustrate the range of tax bills that homeowners might encounter. With the national median property tax rate at 0.99%, Union Bridge's tax bills are comparatively moderate. However, they still represent a significant expense for homeowners, affecting their overall cost of living and financial planning.
Average Union Bridge Tax Bill
$2,811
Average Carroll County Tax Bill
$3,882
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Union Bridge, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21791 | $1,911 | $2,294 | $2,811 | $3,541 | $4,305 |
Source: Ownwell