Berwyn Heights, Maryland Property Taxes
The median property tax rate in Berwyn Heights, MD is 1.45%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Berwyn Heights at $356,400, the typical annual property tax bill reaches $5,199, exceeding the national median of $2,690. Property taxes in Berwyn Heights 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 Berwyn Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Berwyn Heights 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
Berwyn Heights, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$5,168
Ownwell’s Berwyn Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berwyn Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berwyn Heights 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 Berwyn Heights, Maryland
Property taxes in Berwyn Heights, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berwyn Heights is 1.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Berwyn Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berwyn Heights 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 Berwyn Heights' effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 20740 has both the highest and lowest median property tax rate of 1.45%, identical to Berwyn Heights. Understanding how these cities compare with Berwyn Heights provides valuable insights into the varying tax landscape across Prince George's County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berwyn Heights Tax Rate
1.45%
Average Prince George's County Tax Rate
1.11%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berwyn Heights, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20740 | 1.41% | 1.44% | 1.45% | 1.48% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Berwyn Heights, Maryland
In Berwyn Heights, 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 Prince George's 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 Berwyn Heights, 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 Berwyn Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $5,199 in the 20740 zip code, while the lowest median tax bill is also $5,199 in the same zip code.
Property Tax Assessment Values Across Berwyn Heights, Maryland
Source: Ownwell
$223,000
$390,725
$558,450
Average Berwyn Heights Assessed Value
$356,400
Average Prince George's County Assessed Value
$345,300
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berwyn Heights, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20740 | $309,300 | $329,100 | $356,400 | $396,400 | $440,160 |
Source: Ownwell
Property Tax Bills Across Berwyn Heights, Maryland
In Berwyn Heights, located in Prince George's County, MD, property tax bills are determined by the assessed value of a property and the local tax rate. The median home price in this area is $356,400, which significantly influences the tax amount homeowners are required to pay. The local property tax rate is applied to the assessed value to calculate the annual tax bill. For instance, homeowners in the 25th percentile can expect a tax bill around $4,824, while those in the 75th percentile might see bills closer to $5,721. At the higher end, the 90th percentile tax bill reaches up to $6,360. Comparatively, the national median property tax rate is 0.99%, which means Berwyn Heights' property taxes can be quite substantial for homeowners. These taxes are essential for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Berwyn Heights Tax Bill
$5,199
Average Prince George's County Tax Bill
$3,870
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Berwyn Heights, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20740 | $4,553 | $4,824 | $5,199 | $5,721 | $6,360 |
Source: Ownwell