Rawlings, Maryland Property Taxes
The median property tax rate in Rawlings, MD is 0.88%, 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 Rawlings at $134,100, the typical annual property tax bill is $1,154, falling below the national median of $2,690. Property taxes in Rawlings are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Rawlings' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rawlings or another part of Allegany County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rawlings, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,180
Ownwell’s Rawlings Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rawlings with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rawlings 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 Allegany County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Rawlings, Maryland
Property taxes in Rawlings, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rawlings is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Rawlings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rawlings 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 Rawlings' effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 21557 has the highest median property tax rate of 0.88%, while the lowest median tax rate is also 0.88% in the same zip code. Understanding how these areas compare with Rawlings 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 Rawlings Tax Rate
0.88%
Average Allegany County Tax Rate
0.93%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rawlings, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21557 | 0.80% | 0.84% | 0.88% | 0.91% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Rawlings, Maryland
In Rawlings, 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 Rawlings, 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 Rawlings helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Rawlings, the highest median tax bill is $1,154 in the 21557 zip code, while the lowest median tax bill is also $1,154 in the same zip code.
Average Rawlings Assessed Value
$134,100
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 Rawlings, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21557 | $61,240 | $91,500 | $134,100 | $182,500 | $231,060 |
Source: Ownwell
Property Tax Bills Across Rawlings, Maryland
In Rawlings, located in Allegany 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 assessment office and reflects the estimated 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 Rawlings, the median home price stands at $134,100. Property tax bills can vary significantly, with the 25th percentile at $783 and the 75th percentile reaching $1,638. The 90th percentile of property tax bills even goes up to $2,025. These figures indicate a range of potential tax obligations, affected by the home's assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the property tax rates in Rawlings can have a substantial impact on homeowners' finances, making it crucial for them to understand their assessed property values and potential tax liabilities.
Average Rawlings Tax Bill
$1,154
Average Allegany County Tax Bill
$978
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Rawlings, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21557 | $501 | $783 | $1,154 | $1,638 | $2,025 |
Source: Ownwell