Henderson, Maryland Property Taxes
The median property tax rate in HENDERSON, MD is 1.06%, aligning with the state median but still higher than the national median of 0.99%. With the median home value in HENDERSON at $220,650, the typical annual property tax bill reaches $2,297, which is below the national median of $2,690. Property taxes in HENDERSON are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding HENDERSON'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 HENDERSON 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
Henderson, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,339
Ownwell’s HENDERSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HENDERSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HENDERSON 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 Henderson, Maryland
Property taxes in Henderson, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Henderson is 1.06%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Henderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Henderson 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 Henderson's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21640 zip code has the highest median property tax rate of 1.06%, while the 21640 zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Henderson 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 Henderson 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 Henderson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21640 | 1.00% | 1.05% | 1.06% | 1.07% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Henderson, Maryland
In Henderson, 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 Henderson, 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. The median home price in Henderson is $220,650, with the median tax bill ranging from $1,748 at the 25th percentile to $3,718 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Henderson Assessed Value
$220,650
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 Henderson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21640 | $113,210 | $160,550 | $220,650 | $299,275 | $361,280 |
Source: Ownwell
Property Tax Bills Across Henderson, Maryland
In Henderson, located in Caroline County, MD, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county's property assessor and reflects the market value of the property. Homeowners in Henderson can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $1,748 and the 75th percentile reaching up to $3,079. For those in the 90th percentile, the tax bill can be as high as $3,718. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions. The median home price in Henderson stands at $220,650, which helps provide a baseline for the assessed values. Compared to the national median property tax rate of 0.99%, the property tax rates in Henderson can significantly impact homeowners, making it essential for them to understand how their tax bill is determined and what factors contribute to it.
Average Henderson Tax Bill
$2,297
Average Caroline County Tax Bill
$2,469
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Henderson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21640 | $1,289 | $1,748 | $2,297 | $3,079 | $3,718 |
Source: Ownwell