Marbury, Maryland Property Taxes
The median property tax rate in Marbury, MD is 1.20%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Marbury, the typical annual property tax bill reaches $3,432, exceeding the national median of $2,690. Property taxes in Marbury 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 Marbury'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 Marbury 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
Marbury, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$3,534
Ownwell’s Marbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marbury 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 Marbury, Maryland
Property taxes in Marbury, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marbury is 1.20%, which is higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Marbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marbury 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 Marbury's effective property tax rate to other areas in Maryland and the national median. For comparison, the 20658 zip code has both the highest and lowest median property tax rate of 1.20%. Understanding how these cities compare with Marbury 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 Marbury Tax Rate
1.20%
Average Charles County Tax Rate
1.34%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marbury, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20658 | 1.03% | 1.14% | 1.20% | 1.29% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Marbury, Maryland
In Marbury, 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 Marbury, 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 Marbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $3,432 in the 20658 zip code, while the lowest is also $3,432 in the same zip code.
Average Marbury Assessed Value
$294,500
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 Marbury, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20658 | $189,010 | $230,100 | $294,500 | $368,750 | $492,660 |
Source: Ownwell
Property Tax Bills Across Marbury, Maryland
In Marbury, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $294,500, homeowners can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is approximately $2,790, while at the 75th percentile, it rises to around $4,323. The highest tax bills, at the 90th percentile, can reach up to $5,656. Several factors influence these tax bills, including property size, location, and any improvements or renovations made to the home. Compared to the national median property tax rate of 0.99%, Marbury's tax rates reflect the local economic conditions and funding needs for public services. For homeowners, understanding how these factors affect their property tax bills is crucial for financial planning and budgeting, ensuring they are prepared for annual expenses.
Average Marbury Tax Bill
$3,432
Average Charles County Tax Bill
$4,464
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Marbury, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20658 | $2,040 | $2,790 | $3,432 | $4,323 | $5,656 |
Source: Ownwell