Queen Anne, Maryland Property Taxes
The median property tax rate in Queen Anne, MD is 0.85%, which is lower than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Queen Anne at $314,900, the typical annual property tax bill reaches $2,623, slightly under the national median of $2,690. Property taxes in Queen Anne are based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Queen Anne'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 Queen Anne 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
Queen Anne, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$2,677
Ownwell’s Queen Anne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Queen Anne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Queen Anne 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 Queen Anne, Maryland
Property taxes in Queen Anne, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Queen Anne is 0.85%, lower than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Queen Anne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Queen Anne 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 Queen Anne's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21657 zip code has both the highest and lowest median property tax rate of 0.85%. Understanding how these areas compare with Queen Anne provides valuable insights into the varying tax landscape across Queen Anne's County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Queen Anne Tax Rate
0.85%
Average Queen Anne's County Tax Rate
0.94%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Queen Anne, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21657 | 0.76% | 0.79% | 0.85% | 0.90% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Queen Anne, Maryland
In Queen Anne, 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 Queen Anne's County Assessment Office 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 Queen Anne, 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 Queen Anne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Queen Anne is $2,623 in zip code 21657, while the lowest median tax bill is also $2,623 in the same zip code.
Average Queen Anne Assessed Value
$314,900
Average Queen Anne's County Assessed Value
$361,000
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Queen Anne, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21657 | $177,500 | $234,100 | $314,900 | $411,450 | $547,300 |
Source: Ownwell
Property Tax Bills Across Queen Anne, Maryland
In Queen Anne's County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The county's property tax rate is applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $314,900, the property tax bill can vary significantly. Homeowners in the 25th percentile pay around $2,064, while those in the 75th percentile face bills closer to $3,339. At the 90th percentile, tax bills can reach up to $4,365. Several factors influence the tax bill, including property size, location, and improvements made to the home. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Queen Anne's County may find their tax rates to be relatively moderate, but the actual bill can still vary widely based on the specific assessed value of their property.
Average Queen Anne Tax Bill
$2,623
Average Queen Anne's County Tax Bill
$3,399
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Queen Anne, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21657 | $1,717 | $2,064 | $2,623 | $3,339 | $4,365 |
Source: Ownwell