Barton, Maryland Property Taxes
The median property tax rate in Barton, MD is 0.95%, slightly below the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Barton, the typical annual property tax bill reaches $846, which is significantly lower than the national median of $2,690. Property taxes in Barton are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Barton'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 Barton 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
Barton, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$859
Ownwell’s Barton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Barton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barton 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 Barton, Maryland
Property taxes in Barton, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barton is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Barton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barton 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 Barton's effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 21521 has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Barton provides valuable insights into the varying tax landscape across Allegany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barton Tax Rate
0.95%
Average Allegany County Tax Rate
0.93%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21521 | 0.82% | 0.88% | 0.95% | 1.09% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Barton, Maryland
In Barton, 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 Allegany 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 Barton, 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 Barton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $846.00, found in zip code 21521.
Average Barton Assessed Value
$90,400
Average Allegany County Assessed Value
$102,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21521 | $32,800 | $57,100 | $90,400 | $125,500 | $164,500 |
Source: Ownwell
Property Tax Bills Across Barton, Maryland
In Barton, Allegany County, MD, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value represents the market value of the property as determined by the county assessor. This value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Barton, the median home price is $90,400. Property tax bills vary significantly, with the 25th percentile at $556 and the 75th percentile reaching $1,212. At the 90th percentile, homeowners might see tax bills as high as $1,619. These tax bills directly impact homeowners by influencing their annual housing costs. Higher assessed values and tax rates result in higher tax bills, which can affect affordability and the overall cost of homeownership. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners in Barton to understand how their local rates and assessed values compare to manage their financial planning effectively.
Average Barton Tax Bill
$846
Average Allegany County Tax Bill
$978
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Barton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21521 | $320 | $556 | $846 | $1,212 | $1,619 |
Source: Ownwell