Edgewater, Maryland Property Taxes
The median property tax rate in Edgewater, MD is 1.09%, which is higher than both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $395,700 in Edgewater, the typical annual property tax bill reaches $3,916, surpassing the national median of $2,690. Property taxes in Edgewater are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Edgewater'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 Edgewater 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
Edgewater, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$4,313
Ownwell’s Edgewater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edgewater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edgewater 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 Anne Arundel County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Edgewater, Maryland
Property taxes in Edgewater, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edgewater is 1.09%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Edgewater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edgewater 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 Edgewater's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21037 zip code has the highest median property tax rate of 1.09%, while the 21037 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Edgewater 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 Edgewater Tax Rate
1.09%
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 Edgewater, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21037 | 0.71% | 0.87% | 1.09% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Edgewater, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Edgewater, Maryland. 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. Assessment notices in Edgewater 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 Edgewater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 21037, with a median tax bill of $3,916.
Property Tax Assessment Values Across Edgewater, Maryland
Source: Ownwell
$224,750
$1,053,975
$1,883,200
Average Edgewater Assessed Value
$395,700
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 Edgewater, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21037 | $266,900 | $312,200 | $395,700 | $540,000 | $832,160 |
Source: Ownwell
Property Tax Bills Across Edgewater, Maryland
In Edgewater, Anne Arundel County, MD, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Edgewater is $395,700, which provides a baseline for understanding property tax obligations. The tax bill is determined by multiplying the assessed value by the tax rate set by the county. Various factors influence the assessed value, including the home's market value, improvements made, and comparable property sales in the area. For homeowners, this means that any changes in the real estate market or modifications to their property can impact their tax bill. In Edgewater, the 25th percentile tax bill is approximately $3,033, while the 75th percentile reaches around $5,467, and the 90th percentile can be as high as $8,461. The highest and lowest median tax bills in the area are both $3,916, reflecting a relatively consistent tax burden across the city. This system ensures that property taxes align with property values, affecting homeowners' annual expenses.
Average Edgewater Tax Bill
$3,916
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 Edgewater, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21037 | $2,354 | $3,033 | $3,916 | $5,467 | $8,461 |
Source: Ownwell