Hurlock, Maryland Property Taxes
The median property tax rate in Hurlock, MD is 1.12%, notably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Hurlock at $153,000, the typical annual property tax bill amounts to $1,928, which is below the national median of $2,690. Property taxes in Hurlock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hurlock'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 Hurlock 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
Hurlock, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,714
Ownwell’s Hurlock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hurlock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hurlock 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 Hurlock, Maryland
Property taxes in Hurlock, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hurlock is 1.12%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Hurlock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hurlock 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 Hurlock's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21643 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Hurlock 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 Hurlock Tax Rate
1.12%
Average Dorchester County Tax Rate
1.17%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hurlock, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21643 | 1.07% | 1.09% | 1.12% | 1.66% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Hurlock, Maryland
In Hurlock, 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 Hurlock, 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 Hurlock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hurlock are both $1928, found in the 21643 zip code.
Average Hurlock Assessed Value
$153,000
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 Hurlock, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21643 | $73,230 | $101,900 | $153,000 | $220,775 | $284,010 |
Source: Ownwell
Property Tax Bills Across Hurlock, Maryland
In Hurlock, located in Dorchester County, MD, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Hurlock can expect their property tax bills to vary significantly depending on several factors, including the assessed value of their home and the specific tax rate applied by the county. The median home price in Hurlock is $153,000, and the property tax bills can range widely. At the 25th percentile, homeowners pay around $1,378, while those at the 75th percentile face bills closer to $2,682. For the top 10% of property values, tax bills can reach as high as $3,433. This variability means that homeowners with higher-valued properties bear a larger tax burden. Compared to the national median property tax rate of 0.99%, the tax rates in Hurlock can significantly impact household budgets, emphasizing the importance of understanding local property tax assessments.
Average Hurlock Tax Bill
$1,928
Average Dorchester County Tax Bill
$2,036
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Hurlock, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21643 | $842 | $1,378 | $1,928 | $2,682 | $3,433 |
Source: Ownwell