Crocheron, Maryland Property Taxes
The median property tax rate in Crocheron, MD is 1.23%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Crocheron at $47,800, the typical annual property tax bill reaches $592, which is significantly lower than the national median of $2,690. Property taxes in Crocheron are calculated based on the assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Crocheron’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 Crocheron or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crocheron, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$588
Ownwell’s Crocheron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crocheron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crocheron 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 Crocheron, Maryland
Property taxes in Crocheron, Maryland, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Crocheron is 1.23%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Crocheron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crocheron 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 Crocheron's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21627 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these areas compare with Crocheron 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 Crocheron Tax Rate
1.23%
Average Dorchester County Tax Rate
1.17%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crocheron, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21627 | 1.13% | 1.17% | 1.23% | 1.29% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Crocheron, Maryland
In Crocheron, 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 Crocheron, 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 Crocheron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $47,800, with the highest median tax bill being $592 in zip code 21627.
Average Crocheron Assessed Value
$47,800
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 Crocheron, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21627 | $21,730 | $30,325 | $47,800 | $82,925 | $141,450 |
Source: Ownwell
Property Tax Bills Across Crocheron, Maryland
In Crocheron, Dorchester County, MD, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The median home price in Crocheron is $47,800. Property taxes are influenced by various factors, including the property's location, size, and condition. The tax rate applied to the assessed value determines the final tax bill. For homeowners in Crocheron, the property tax bill can vary significantly. At the 25th percentile, the tax bill is $379, while at the 75th percentile, it rises to $927. For those at the 90th percentile, the tax bill can be as high as $1,609. The highest and lowest median tax bills in the area are both $592, indicating a relatively consistent tax rate across different properties. These property tax bills can have a substantial impact on homeowners, affecting their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Crocheron's rates reflect the local economic conditions and property values.
Average Crocheron Tax Bill
$592
Average Dorchester County Tax Bill
$2,036
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Crocheron, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21627 | $250 | $379 | $592 | $927 | $1,609 |
Source: Ownwell