Charlestown, Maryland Property Taxes
The median property tax rate in Charlestown, MD is 1.14%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Charlestown at $206,150, the typical annual property tax bill reaches $2,378, which is below the national median of $2,690. Property taxes in Charlestown are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Charlestown'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 Charlestown 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
Charlestown, Maryland Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,120
Ownwell’s CHARLESTOWN Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in CHARLESTOWN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CHARLESTOWN to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Charlestown, Maryland
Property taxes in Charlestown, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlestown is 1.14%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Charlestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlestown 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 Charlestown's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21914 zip code has the highest median property tax rate of 1.14%, while the 21914 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Charlestown provides valuable insights into the varying tax landscape across Cecil County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlestown Tax Rate
1.14%
Average Cecil County Tax Rate
0.89%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlestown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21914 | 0.80% | 1.07% | 1.14% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Charlestown, Maryland
In Charlestown, 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 Cecil 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 Charlestown, 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 Charlestown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $2,378 in zip code 21914.
Average Charlestown Assessed Value
$206,150
Average Cecil County Assessed Value
$239,900
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlestown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21914 | $93,880 | $152,150 | $206,150 | $259,125 | $363,110 |
Source: Ownwell
Property Tax Bills Across Charlestown, Maryland
In Charlestown, Cecil County, MD, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in Charlestown is $206,150. To calculate the property tax bill, the assessed value is multiplied by the local tax rate. For instance, a home with a median value may incur a tax bill ranging from $1,637 at the 25th percentile to $3,076 at the 75th percentile, with the 90th percentile reaching up to $4,538. Factors influencing the tax bill include the property's assessed value, which can fluctuate based on market conditions and property improvements. Homeowners in Charlestown experience a median tax bill of $2,378, which is above the national median property tax rate of 0.99%. This higher tax burden can affect homeowners' financial planning and the overall cost of homeownership in the area. Understanding these factors helps residents anticipate their annual tax obligations and plan accordingly.
Average Charlestown Tax Bill
$2,378
Average Cecil County Tax Bill
$2,238
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlestown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21914 | $757 | $1,637 | $2,378 | $3,076 | $4,538 |
Source: Ownwell