Queen Anne, Maryland Property Taxes
The median property tax rate in Queen Anne, MD is 1.03%, slightly higher than the national median of 0.99% but lower than Maryland's state median of 1.06%. With a median home value of $327,900 in Queen Anne, the typical annual property tax bill amounts to $3,344, surpassing the national median of $2,690. Property taxes in Queen Anne are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Queen Anne'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 Queen Anne 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
Queen Anne, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$3,377
Ownwell’s Queen Anne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Queen Anne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Queen Anne 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 Queen Anne, Maryland
Property taxes in Queen Anne, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Queen Anne is 1.03%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Queen Anne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Queen Anne 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 Queen Anne's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21657 zip code has the highest median property tax rate of 1.03%, while the 21657 zip code has the lowest median tax rate of 1.03%. Understanding how these cities compare with Queen Anne provides valuable insights into the varying tax landscape across Queen Anne's county, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Queen Anne Tax Rate
1.03%
Average Caroline County Tax Rate
1.08%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Queen Anne, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21657 | 0.97% | 1.00% | 1.03% | 1.05% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Queen Anne, Maryland
In Queen Anne, 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 Queen Anne, 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 Queen Anne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $3,344 in the 21657 zip code, while the lowest is the same at $3,344.
Average Queen Anne Assessed Value
$327,900
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 Queen Anne, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21657 | $247,360 | $290,000 | $327,900 | $383,500 | $425,760 |
Source: Ownwell
Property Tax Bills Across Queen Anne, Maryland
In Queen Anne, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Queen Anne can expect their tax bills to vary significantly, influenced by factors such as property size, location, and any applicable exemptions. For instance, the median home price in Queen Anne is $327,900. Tax bills in the area range from the 25th percentile at $2,949 to the 75th percentile at $3,927, with the 90th percentile reaching up to $4,358. These figures highlight the variability in tax obligations among homeowners. Compared to the national median property tax rate of 0.99%, Queen Anne's property tax rates can be considered relatively high. High property taxes can impact homeowners by increasing the overall cost of owning a home, affecting affordability and potentially influencing property values. Understanding these factors is crucial for homeowners when budgeting for annual expenses and making informed decisions about property investments.
Average Queen Anne Tax Bill
$3,344
Average Caroline County Tax Bill
$2,469
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Queen Anne, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21657 | $2,327 | $2,949 | $3,344 | $3,927 | $4,358 |
Source: Ownwell