Goldsboro, Maryland Property Taxes
The median property tax rate in Goldsboro, MD is 1.05%, slightly higher than the national median of 0.99% but just below the Maryland state median of 1.06%. With the median home value in Goldsboro at $204,900, the typical annual property tax bill is $2,171, which is lower than the national median of $2,690. Property taxes in Goldsboro 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 Goldsboro’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 Goldsboro 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
Goldsboro, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$2,151
Ownwell’s Goldsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goldsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goldsboro 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 Goldsboro, Maryland
Property taxes in Goldsboro, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goldsboro is 1.05%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Goldsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goldsboro 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 Goldsboro's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21636 zip code has the highest median property tax rate of 1.05%, while the 21636 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Goldsboro 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 Goldsboro Tax Rate
1.05%
Average Caroline County Tax Rate
1.08%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goldsboro, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21636 | 0.93% | 1.01% | 1.05% | 1.08% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Goldsboro, Maryland
In Goldsboro, 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 Goldsboro, 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 Goldsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,171 in the 21636 zip code.
Average Goldsboro Assessed Value
$204,900
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 Goldsboro, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21636 | $96,840 | $139,500 | $204,900 | $285,100 | $397,760 |
Source: Ownwell
Property Tax Bills Across Goldsboro, Maryland
In Goldsboro, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the property's location, size, and condition, as well as recent sales of similar properties in the area, are considered in the assessment process. For homeowners in Goldsboro, MD, the median home price is $204,900. The property tax bill for the 25th percentile is $1,688, while those in the 75th percentile pay around $2,877. Homeowners in the 90th percentile face a tax bill of $3,980. These figures show a range of property tax burdens that can significantly impact household budgets. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Goldsboro to understand how their local rates and assessed values affect their annual tax bills. The highest and lowest median tax bills in the area are both $2,171, highlighting a relatively consistent property tax landscape within the specified zip code of 21636.
Average Goldsboro Tax Bill
$2,171
Average Caroline County Tax Bill
$2,469
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Goldsboro, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21636 | $1,167 | $1,688 | $2,171 | $2,877 | $3,980 |
Source: Ownwell