Jefferson, Maryland Property Taxes
The median property tax rate in Jefferson, 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 Jefferson at $383,650, the typical annual property tax bill reaches $4,291, exceeding the national median of $2,690. Property taxes in Jefferson 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 Jefferson'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 Jefferson 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
Jefferson, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$4,335
Ownwell’s Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, Maryland
Property taxes in Jefferson, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 1.13%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21755 zip code has the highest median property tax rate of 1.13%, while the 21755 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Frederick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
1.13%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21755 | 1.01% | 1.10% | 1.13% | 1.16% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, Maryland
In Jefferson, 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 Frederick 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 Jefferson, 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Jefferson are both $4,291, found in the 21755 zip code.
Average Jefferson Assessed Value
$383,650
Average Frederick County Assessed Value
$362,500
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21755 | $212,700 | $299,425 | $383,650 | $459,825 | $554,050 |
Source: Ownwell
Property Tax Bills Across Jefferson, Maryland
In Jefferson, located in Frederick County, MD, property tax bills are calculated based on the assessed value of a home. The county assessors determine this value by evaluating the property’s market conditions, size, and features. Homeowners in Jefferson experience a range of property tax bills, with the median home price at $383,650. The tax bill for the 25th percentile is $3,355, while the 75th percentile sees bills around $5,128, and the 90th percentile can reach up to $6,224. Comparatively, Jefferson's property tax rates are higher than the national median property tax rate of 0.99%. This difference means that homeowners in Jefferson may face higher annual property tax bills than the average American homeowner. These taxes fund essential local services, such as schools, public safety, and infrastructure, directly impacting the community. While the highest and lowest median tax bills in the area are both recorded at $4,291 in the zip code 21755, understanding these figures helps homeowners budget effectively and anticipate their financial obligations.
Average Jefferson Tax Bill
$4,291
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21755 | $2,393 | $3,355 | $4,291 | $5,128 | $6,224 |
Source: Ownwell