Upperco, Maryland Property Taxes
The median property tax rate in UPPERCO, MD is 1.00%, slightly higher than the national median of 0.99% but lower than the Maryland state median of 1.06%. With a median home value of $397,200 in UPPERCO, the typical annual property tax bill reaches $3,883, significantly surpassing the national median of $2,690. Property taxes in UPPERCO 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 UPPERCO'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 UPPERCO 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
Upperco, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$3,972
Ownwell’s Upperco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Upperco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Upperco 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 Upperco, Maryland
Property taxes in Upperco, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Upperco is 1.00%, higher than the U.S. national median of 0.99%. Local government entities within Upperco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Upperco 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 Upperco's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21155 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Upperco 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 Upperco Tax Rate
1.00%
Average Carroll County Tax Rate
1.10%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Upperco, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21155 | 0.95% | 0.97% | 1.00% | 1.01% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Upperco, Maryland
In Upperco, 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 Upperco 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 Upperco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bill in the area is $3,883, found in zip code 21155.
Average Upperco Assessed Value
$397,200
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 Upperco, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21155 | $271,600 | $320,350 | $397,200 | $511,900 | $587,300 |
Source: Ownwell
Property Tax Bills Across Upperco, Maryland
In Upperco, Carroll County, MD, property tax bills are determined by the assessed value of a home, which is based on market conditions and property characteristics. The property tax rate in Carroll County is applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $397,200, homeowners can expect varying tax bills. The 25th percentile tax bill is around $3,229, while the 75th percentile reaches approximately $5,009, and the 90th percentile can go up to $5,798. Factors influencing the tax bill include the property's location, size, and any improvements made. These elements contribute to the assessed value, which is then multiplied by the local property tax rate. Homeowners in Upperco should be aware that their tax bills might be higher or lower than the national median property tax rate of 0.99%, depending on these factors. Understanding how these components interact helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Upperco Tax Bill
$3,883
Average Carroll County Tax Bill
$3,882
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Upperco, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21155 | $2,830 | $3,229 | $3,883 | $5,009 | $5,798 |
Source: Ownwell