Betterton, Maryland Property Taxes
The median property tax rate in Betterton, 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 Betterton at $246,550, the typical annual property tax bill reaches $2,825, exceeding the national median of $2,690. Property taxes in Betterton 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 Betterton'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 Betterton 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
Betterton, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$3,008
Ownwell’s Betterton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Betterton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Betterton 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 Betterton, Maryland
Property taxes in Betterton, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Betterton is 1.22%, significantly higher than the U.S. national median of 0.99%. Local government entities within Betterton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Betterton 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 Betterton's effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 21610 has both the highest and lowest median property tax rate of 1.22%. Understanding how these areas compare with Betterton provides valuable insights into the varying tax landscape across Kent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Betterton Tax Rate
1.22%
Average Kent County Tax Rate
1.12%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Betterton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21610 | 1.00% | 1.08% | 1.22% | 1.29% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Betterton, Maryland
In Betterton, 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 Kent 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 Betterton, 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. For example, the median home price in Betterton is $246,550, with tax bills ranging from $2,298 at the 25th percentile to $5,358 at the 90th percentile. Notably, the highest and lowest median tax bill in the area is $2,825, both found in zip code 21610. 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 Betterton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Betterton Assessed Value
$246,550
Average Kent County Assessed Value
$227,650
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Betterton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21610 | $159,820 | $197,100 | $246,550 | $300,000 | $478,870 |
Source: Ownwell
Property Tax Bills Across Betterton, Maryland
In Betterton, located in Kent County, MD, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county's property assessor and reflects the market value of the home. Homeowners in Betterton see a range of tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $2,298, while the 75th percentile tax bill reaches approximately $3,690. The highest tax bills, in the 90th percentile, can go up to $5,358. These tax bills directly impact homeowners by influencing their annual financial obligations. With the national median property tax rate at 0.99%, Betterton's property taxes can be considered relatively moderate. However, the specific amount each homeowner pays will vary based on their property's assessed value. Understanding these factors can help homeowners better plan their finances and anticipate their annual property tax responsibilities.
Average Betterton Tax Bill
$2,825
Average Kent County Tax Bill
$2,628
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Betterton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21610 | $1,833 | $2,298 | $2,825 | $3,690 | $5,358 |
Source: Ownwell