Crapo, Maryland Property Taxes
The median property tax rate in Crapo, MD is 1.18%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Crapo, the typical annual property tax bill reaches $941, which is below the national median of $2,690. Property taxes in Crapo 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 Crapo'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 Crapo or another part of Dorchester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crapo, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$959
Ownwell’s Crapo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crapo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crapo 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 Crapo, Maryland
Property taxes in Crapo, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crapo is 1.18%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Crapo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crapo 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 Crapo's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21626 zip code has the highest median property tax rate of 1.18%, while the 21626 zip code has the lowest median tax rate of 1.18%. Understanding how these cities compare with Crapo provides valuable insights into the varying tax landscape across Dorchester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crapo Tax Rate
1.18%
Average Dorchester County Tax Rate
1.17%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crapo, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21626 | 1.13% | 1.16% | 1.18% | 1.21% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Crapo, Maryland
In Crapo, 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 Dorchester 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 Crapo, 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 Crapo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dorchester County is $81,250, with the highest median tax bill being $941 in zip code 21626.
Average Crapo Assessed Value
$81,250
Average Dorchester County Assessed Value
$163,800
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crapo, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21626 | $38,670 | $57,500 | $81,250 | $122,250 | $192,320 |
Source: Ownwell
Property Tax Bills Across Crapo, Maryland
In Crapo, located in Dorchester County, MD, property tax bills are calculated based on the assessed value of a property and the local tax rate. The median home price in Crapo is $81,250. Homeowners in this area can expect their property tax bills to vary, with the 25th percentile paying around $666 annually, while those in the 75th percentile pay approximately $1,411. At the 90th percentile, the tax bill can reach up to $2,193. These tax bills are influenced by factors such as property size, location, and any improvements made to the property. The assessed value is determined by the county assessor, who evaluates the market value of the property. Homeowners in Crapo face a median property tax bill of $941, which is slightly below the national median property tax rate of 0.99%. This system ensures that property taxes are fairly distributed based on property value, affecting homeowners by contributing to local services and infrastructure.
Average Crapo Tax Bill
$941
Average Dorchester County Tax Bill
$2,036
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Crapo, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21626 | $490 | $666 | $941 | $1,411 | $2,193 |
Source: Ownwell