North Beach, Maryland Property Taxes
The median property tax rate in North Beach, MD is 1.07%, slightly higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in North Beach at $296,100, the typical annual property tax bill reaches $2,923, surpassing the national median of $2,690. Property taxes in North Beach 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 North Beach'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 North Beach 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
North Beach, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$3,168
Ownwell’s North Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Beach 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 North Beach, Maryland
Property taxes in North Beach, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Beach is 1.07%, higher than the U.S. national median of 0.99%. Local government entities within North Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Beach 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 North Beach's effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 20714 has the highest median property tax rate of 1.07%, while the same zip code also represents the lowest median tax rate of 1.07%. Understanding how these figures compare with North Beach provides valuable insights into the varying tax landscape across Calvert County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Beach Tax Rate
1.07%
Average Calvert County Tax Rate
1.01%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20714 | 0.91% | 0.92% | 1.07% | 1.12% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across North Beach, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in North Beach, 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 Calvert 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 North Beach, 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 North Beach 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 in North Beach is 20714, with a median tax bill of $2,923.
Average North Beach Assessed Value
$296,100
Average Calvert County Assessed Value
$346,200
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20714 | $204,560 | $247,625 | $296,100 | $371,950 | $453,270 |
Source: Ownwell
Property Tax Bills Across North Beach, Maryland
In North Beach, located in Calvert County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in North Beach, the median home price is $296,100. The tax bills can vary significantly, with the 25th percentile at $2,454 and the 75th percentile at $3,852, while the 90th percentile reaches up to $4,744. These tax rates can have a substantial impact on homeowners, affecting their annual financial planning and overall cost of homeownership. Compared to the national median property tax rate of 0.99%, North Beach's tax rates reflect the local policies and economic conditions. Homeowners should be aware of these factors as they can influence the affordability and desirability of properties in the area. Understanding how these taxes are calculated can help homeowners better anticipate their expenses and manage their budgets effectively.
Average North Beach Tax Bill
$2,923
Average Calvert County Tax Bill
$3,494
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across North Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20714 | $2,179 | $2,454 | $2,923 | $3,852 | $4,744 |
Source: Ownwell