Harmans, Maryland Property Taxes
The median property tax rate in Harmans, MD is 0.92%, which is slightly lower than the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Harmans, the typical annual property tax bill reaches $2,876, surpassing the national median of $2,690. Property taxes in Harmans 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 Harmans'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 Harmans 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
Harmans, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$2,960
Ownwell’s Harmans Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harmans with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harmans 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 Harmans, Maryland
Property taxes in Harmans, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harmans is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Harmans set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harmans 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 Harmans' effective property tax rate to other counties in Maryland and the national median. For comparison, the 21077 zip code has the highest median property tax rate of 0.92%, while the same 21077 zip code also has the lowest median tax rate of 0.92%. Understanding how these areas compare with Harmans 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 Harmans Tax Rate
0.92%
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 Harmans, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21077 | 0.68% | 0.73% | 0.92% | 0.96% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Harmans, Maryland
In Harmans, 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 Harmans, 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 Harmans helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Harmans both stand at $2,876, specifically in the 21077 zip code.
Average Harmans Assessed Value
$321,750
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 Harmans, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21077 | $21,710 | $285,575 | $321,750 | $421,800 | $479,240 |
Source: Ownwell
Property Tax Bills Across Harmans, Maryland
In Harmans, Anne Arundel County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property assessor. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $321,750, homeowners in Harmans can expect their property tax bills to vary. The tax bill at the 25th percentile is $2,328, while at the 75th percentile, it rises to $4,168, and at the 90th percentile, it reaches $4,584. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions or abatements. Compared to the national median property tax rate of 0.99%, the property taxes in this area can be considered relatively moderate. For homeowners, understanding these factors is crucial as property taxes represent a significant annual expense, impacting overall housing affordability and financial planning.
Average Harmans Tax Bill
$2,876
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 Harmans, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21077 | $2,075 | $2,328 | $2,876 | $4,168 | $4,584 |
Source: Ownwell