Bryans Road, Maryland Property Taxes
The median property tax rate in Bryans Road, MD is 1.22%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Bryans Road at $341,000, the typical annual property tax bill reaches $4,051, exceeding the national median of $2,690. Property taxes in Bryans Road 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 Bryans Road'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 Bryans Road 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
Bryans Road, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$4,160
Ownwell’s Bryans Road Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bryans Road with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bryans Road 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 Bryans Road, Maryland
Property taxes in Bryans Road, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bryans Road is 1.22%, higher than both the Maryland state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Bryans Road set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bryans Road 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 Bryans Road's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20616 zip code has the highest median property tax rate of 1.22%, while the 20616 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Bryans Road provides valuable insights into the varying tax landscape across Charles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bryans Road Tax Rate
1.22%
Average Charles County Tax Rate
1.34%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bryans Road, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20616 | 1.11% | 1.16% | 1.22% | 1.31% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Bryans Road, Maryland
In Bryans Road, 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 Charles 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 Bryans Road, 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. The median home price in Bryans Road is $341,000, with tax bills ranging from $3,349 at the 25th percentile to $8,053 at the 90th percentile. The highest and lowest median tax bills are both $4,051 in the 20616 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 Bryans Road Assessed Value
$341,000
Average Charles County Assessed Value
$334,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bryans Road, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20616 | $218,500 | $274,800 | $341,000 | $440,100 | $549,500 |
Source: Ownwell
Property Tax Bills Across Bryans Road, Maryland
In Bryans Road, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Homeowners in Bryans Road face varying tax bills, influenced by factors such as property size, location, and any improvements made to the home. For instance, the median home price in Bryans Road is $341,000, with property tax bills ranging from $3,349 at the 25th percentile to $8,053 at the 90th percentile. The median property tax rate in the area is significantly higher than the national median of 0.99%, with the highest and lowest median tax bills both recorded at $4,051 in the 20616 zip code. These property taxes contribute to essential public services such as schools, infrastructure, and emergency services, impacting homeowners by increasing their annual housing costs.
Average Bryans Road Tax Bill
$4,051
Average Charles County Tax Bill
$4,464
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Bryans Road, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20616 | $2,849 | $3,349 | $4,051 | $6,011 | $8,053 |
Source: Ownwell