Gambrills, Maryland Property Taxes
The median property tax rate in Gambrills, MD is 0.97%, slightly below the state median of 1.06% but close to the national median of 0.99%. With the median home value in Gambrills at $467,000, the typical annual property tax bill reaches $4,442, significantly exceeding the national median of $2,690. Property taxes in Gambrills are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Gambrills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gambrills or another part of Anne Arundel County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gambrills, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$4,530
Ownwell’s Gambrills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gambrills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gambrills 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 Gambrills, Maryland
Property taxes in Gambrills, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gambrills is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Gambrills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gambrills 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 Gambrills' effective property tax rate to other areas in Anne Arundel County and the national median. For comparison, the zip code 21054 has both the highest and lowest median property tax rate of 0.97%. Understanding how these areas compare with Gambrills 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 Gambrills Tax Rate
0.97%
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 Gambrills, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21054 | 0.68% | 0.86% | 0.97% | 1.04% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Gambrills, Maryland
In Gambrills, 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 Gambrills, 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. For example, the median home price in Gambrills is $467,000, with tax bills ranging from $3,385 at the 25th percentile to $7,437 at the 90th percentile. 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 Gambrills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Gambrills, Maryland
Source: Ownwell
$224,750
$1,053,975
$1,883,200
Average Gambrills Assessed Value
$467,000
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 Gambrills, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21054 | $287,920 | $368,275 | $467,000 | $614,000 | $737,870 |
Source: Ownwell
Property Tax Bills Across Gambrills, Maryland
In Gambrills, located in Anne Arundel County, MD, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county's property assessor and reflects the market value of the property. Homeowners in Gambrills can expect their tax bill to be influenced by several factors including the local tax rate, property improvements, and exemptions they may qualify for. The median home price in Gambrills is $467,000, and property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $3,385, while at the 75th percentile, it rises to $6,088. At the 90th percentile, homeowners could see a tax bill as high as $7,437. These figures highlight the range of tax obligations that homeowners might face, depending on their property's assessed value and any applicable exemptions. Understanding how these factors interplay is crucial for homeowners to anticipate their annual property tax bills and plan their finances accordingly. The highest median tax bill in the area is $4,442, which is notably higher than the national median property tax rate of 0.99%.
Average Gambrills Tax Bill
$4,442
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 Gambrills, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21054 | $2,512 | $3,385 | $4,442 | $6,088 | $7,437 |
Source: Ownwell