Arnold, Maryland Property Taxes
The median property tax rate in Arnold, MD is 1.03%, slightly higher than the national median of 0.99% but lower than the Maryland state median of 1.06%. With the median home value in Arnold at $420,100, the typical annual property tax bill reaches $3,904, significantly exceeding the national median of $2,690. Property taxes in Arnold 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 Arnold'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 Arnold 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
Arnold, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$4,327
Ownwell’s Arnold Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arnold with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arnold 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 Arnold, Maryland
Property taxes in Arnold, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arnold is 1.03%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Arnold set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arnold 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 Arnold's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21012 zip code has the highest median property tax rate of 1.03%, while also having the lowest median tax rate of 1.03%. Understanding how these areas compare with Arnold provides valuable insights into the varying tax landscape across Anne Arundel County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arnold Tax Rate
1.03%
Average Anne Arundel County Tax Rate
0.97%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arnold, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21012 | 0.68% | 0.78% | 1.03% | 1.07% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Arnold, Maryland
In Arnold, 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 Anne Arundel 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 Arnold, 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 Arnold helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 21012 has both the highest and lowest median tax bill at $3,904.
Average Arnold Assessed Value
$420,100
Average Anne Arundel County Assessed Value
$376,600
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arnold, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21012 | $237,180 | $324,750 | $420,100 | $540,500 | $725,400 |
Source: Ownwell
Property Tax Bills Across Arnold, Maryland
In Arnold, located in Anne Arundel County, MD, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The median home price in Arnold is $420,100. Homeowners in this area typically see a range of property tax bills, with the 25th percentile around $2,894 and the 75th percentile reaching up to $5,325. For those at the 90th percentile, the tax bill can be as high as $7,208. These calculations consider the assessed value of the property, which may differ from the market value. The local tax rate is applied to this assessed value to determine the tax bill. In Arnold, the median property tax bill is $3,904, which is above the national median property tax rate of 0.99%. This means that homeowners in Arnold generally pay higher property taxes compared to the national average, impacting their overall cost of homeownership. Both the highest and lowest median tax bills in Arnold are recorded at $3,904, specifically in the 21012 zip code.
Average Arnold Tax Bill
$3,904
Average Anne Arundel County Tax Bill
$3,553
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Arnold, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21012 | $2,259 | $2,894 | $3,904 | $5,325 | $7,208 |
Source: Ownwell