Myersville, Maryland Property Taxes
The median property tax rate in Myersville, 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 Myersville at $327,900, the typical annual property tax bill reaches $4,161, exceeding the national median of $2,690. Property taxes in Myersville 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 Myersville'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 Myersville 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
Myersville, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$4,000
Ownwell’s Myersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Myersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Myersville 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 Myersville, Maryland
Property taxes in Myersville, Maryland, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Myersville is 1.22%, higher than the U.S. national median of 0.99%. Local government entities within Myersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Myersville 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 Myersville's effective property tax rate to other areas in Frederick County and the national median. For comparison, the 21773 zip code has the highest median property tax rate of 1.22%, while the 21773 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Myersville 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 Myersville Tax Rate
1.22%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Myersville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21773 | 1.16% | 1.20% | 1.22% | 1.42% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Myersville, Maryland
In Myersville, 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 Myersville, 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 Myersville is $327,900, with tax bills ranging from $3,199 at the 25th percentile to $6,469 at the 90th percentile. The zip code with the highest and lowest median tax bill is 21773, both valued at $4,161. Being aware of these valuation processes in Myersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Myersville Assessed Value
$327,900
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 Myersville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21773 | $201,920 | $254,700 | $327,900 | $404,800 | $527,740 |
Source: Ownwell
Property Tax Bills Across Myersville, Maryland
In Myersville, located in Frederick County, MD, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Myersville, the median home price is $327,900, and the property tax rate in Frederick County is higher than the national median of 0.99%. This translates to a substantial tax bill for homeowners, with the 25th percentile tax bill at $3,199 and the 75th percentile reaching $5,206. At the 90th percentile, homeowners may see tax bills as high as $6,469. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding how these factors interplay can help homeowners better prepare for their annual property tax obligations.
Average Myersville Tax Bill
$4,161
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Myersville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21773 | $2,323 | $3,199 | $4,161 | $5,206 | $6,469 |
Source: Ownwell