Barclay, Maryland Property Taxes
The median property tax rate in Barclay, MD is 1.06%, aligning with the Maryland state median but notably higher than the national median of 0.99%. With a median home value of $229,500 in Barclay, the typical annual property tax bill amounts to $2,438, which is close to the national median of $2,690. Property taxes in Barclay are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Barclay'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 Barclay 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
Barclay, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,433
Ownwell’s Barclay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barclay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barclay 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 Barclay, Maryland
Property taxes in Barclay, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barclay is 1.06%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Barclay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barclay 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 Barclay's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21607 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Barclay provides valuable insights into the varying tax landscape across Caroline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barclay Tax Rate
1.06%
Average Caroline County Tax Rate
1.08%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barclay, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21607 | 1.06% | 1.06% | 1.06% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Barclay, Maryland
In Barclay, 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 Caroline 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 Barclay, 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 Barclay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 21607, with a median tax bill of $2,438, which is significantly above the national median property tax rate of 0.99%.
Average Barclay Assessed Value
$229,500
Average Caroline County Assessed Value
$216,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barclay, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21607 | $169,100 | $191,750 | $229,500 | $230,700 | $231,420 |
Source: Ownwell
Property Tax Bills Across Barclay, Maryland
In Barclay, Caroline County, MD, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the county's property assessor and reflects the market value of the property. For homeowners in Barclay, the median home price stands at $229,500. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Barclay can expect their tax bills to vary, with the 25th percentile at $2,038 and the 75th percentile at $2,466. The 90th percentile tax bill reaches $2,483. These figures indicate a range of property tax burdens that homeowners might face, depending on their property's assessed value and any qualifying exemptions. Compared to the national median property tax rate of 0.99%, Barclay's tax bills reflect the local economic conditions and property values, impacting homeowners' annual financial obligations significantly.
Average Barclay Tax Bill
$2,438
Average Caroline County Tax Bill
$2,469
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Barclay, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21607 | $1,799 | $2,038 | $2,438 | $2,466 | $2,483 |
Source: Ownwell