Linkwood, Maryland Property Taxes
The median property tax rate in Linkwood, MD is 1.13%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Linkwood at $131,350, the typical annual property tax bill reaches $1,467, exceeding the national median of $2,690. Property taxes in Linkwood 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 Linkwood'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 Linkwood 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
Linkwood, 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 Linkwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linkwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linkwood 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 Linkwood, Maryland
Property taxes in Linkwood, Maryland, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Linkwood is 1.13%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Linkwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linkwood 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 Linkwood's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21835 zip code has the highest median property tax rate of 1.13%, while the 21835 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Linkwood 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 Linkwood Tax Rate
1.13%
Average Dorchester County Tax Rate
1.17%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Linkwood, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21835 | 1.09% | 1.11% | 1.13% | 1.16% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Linkwood, Maryland
In Linkwood, 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 Linkwood, 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 Linkwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1467 in zip code 21835, while the lowest median tax bill is also $1467 in the same zip code.
Average Linkwood Assessed Value
$131,350
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 Linkwood, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21835 | $63,530 | $88,700 | $131,350 | $210,000 | $331,740 |
Source: Ownwell
Property Tax Bills Across Linkwood, Maryland
In Linkwood, property tax bills are calculated based on the assessed value of a home, which is determined by the Dorchester County tax assessor. The median home price in Linkwood is $131,350, and property taxes are levied accordingly. Factors such as property size, location, and improvements play a significant role in determining the assessed value. Homeowners in Linkwood can expect their property tax bills to vary, with the 25th percentile tax bill at $1,012 and the 75th percentile reaching up to $2,220. For those at the higher end, the 90th percentile tax bill is $3,711. Comparatively, the national median property tax rate is 0.99%, and Linkwood's tax rates reflect the local economic conditions and public service needs. These tax bills contribute to essential services such as schools, public safety, and infrastructure, impacting homeowners by influencing their overall cost of living and the value they receive from community services.
Average Linkwood Tax Bill
$1,467
Average Dorchester County Tax Bill
$2,036
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Linkwood, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21835 | $740 | $1,012 | $1,467 | $2,220 | $3,711 |
Source: Ownwell