Hughesville, Maryland Property Taxes
The median property tax rate in Hughesville, MD is 1.42%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Hughesville at $387,100, the typical annual property tax bill reaches $5,505, exceeding the national median of $2,690. Property taxes in Hughesville 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 Hughesville'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 Hughesville 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
Hughesville, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$5,497
Ownwell’s Hughesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hughesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hughesville 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 Hughesville, Maryland
Property taxes in Hughesville, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hughesville is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hughesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hughesville 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 Hughesville's effective property tax rate to other areas and the national median. For comparison, the 20637 zip code has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these figures compare with Hughesville provides valuable insights into the varying tax landscape across Charles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hughesville Tax Rate
1.42%
Average Charles County Tax Rate
1.34%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hughesville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20637 | 1.38% | 1.40% | 1.42% | 1.46% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Hughesville, Maryland
In Hughesville, 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 Charles 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 Hughesville, 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 Hughesville is $387,100, with tax bills ranging from $4,388 at the 25th percentile to $8,798 at the 90th percentile. Being aware of these valuation processes in Hughesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hughesville Assessed Value
$387,100
Average Charles County Assessed Value
$334,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hughesville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20637 | $202,030 | $300,700 | $387,100 | $485,775 | $572,600 |
Source: Ownwell
Property Tax Bills Across Hughesville, Maryland
In Hughesville, Charles County, MD, property tax bills are determined based on the assessed value of the property and the local tax rate. The assessed value is an estimate of the property's market value, which is periodically determined by the county assessor. Homeowners in Hughesville face a median property tax rate of 1.42%, which is higher than the national median of 0.99%. For a median home price of $387,100, the property tax bill can vary significantly. At the 25th percentile, homeowners might pay around $4,388, while at the 75th percentile, the tax bill could rise to approximately $7,185. The top 10% of property tax bills can reach up to $8,798. These taxes fund essential public services such as schools, emergency services, and infrastructure, impacting the overall quality of life in the community. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax obligations.
Average Hughesville Tax Bill
$5,505
Average Charles County Tax Bill
$4,464
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Hughesville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20637 | $3,184 | $4,388 | $5,505 | $7,185 | $8,798 |
Source: Ownwell