Denton, Maryland Property Taxes
The median property tax rate in Denton, MD is 1.00%, slightly above the national median of 0.99% but lower than the Maryland state median of 1.06%. With a median home value of $268,500 in Denton, the typical annual property tax bill reaches $2,909, surpassing the national median of $2,690. Property taxes in Denton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Denton'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 Denton or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Denton, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$2,685
Ownwell’s Denton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Denton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Denton 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 Denton, Maryland
Property taxes in Denton, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Denton is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Denton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Denton 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 Denton's effective property tax rate to other areas in Maryland and the national median. For comparison, the 21629 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Denton 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 Denton Tax Rate
1.00%
Average Caroline County Tax Rate
1.08%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Denton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21629 | 0.87% | 0.94% | 1.00% | 1.38% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Denton, Maryland
In Denton, 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 Denton, 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 Denton is $268,500, with tax bills ranging from $2,201 at the 25th percentile to $4,908 at the 90th percentile. The zip code 21629 has both the highest and lowest median tax bills at $2,909. 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 Denton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Denton Assessed Value
$268,500
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 Denton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21629 | $148,200 | $193,300 | $268,500 | $351,900 | $441,800 |
Source: Ownwell
Property Tax Bills Across Denton, Maryland
In Denton, Caroline County, MD, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. Homeowners in Denton can expect varying tax bills depending on their property's assessed value and the local tax rate. For instance, the median home price in Denton is $268,500, which can lead to different tax bills depending on the percentile range. At the 25th percentile, homeowners might see tax bills around $2,201, while those in the 75th percentile could face bills up to $3,966. The top 10% of homeowners may encounter even higher bills, with the 90th percentile reaching approximately $4,908. The highest and lowest median tax bill in Denton stands at $2,909, which is notably higher than the national median property tax rate of 0.99%. These taxes significantly impact homeowners by influencing their annual financial planning and overall housing affordability.
Average Denton Tax Bill
$2,909
Average Caroline County Tax Bill
$2,469
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Denton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21629 | $1,660 | $2,201 | $2,909 | $3,966 | $4,908 |
Source: Ownwell