Smithsburg, Maryland Property Taxes
The median property tax rate in Smithsburg, MD is 1.22%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Smithsburg at $263,750, the typical annual property tax bill reaches $3,141, exceeding the national median of $2,690. Property taxes in Smithsburg 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 Smithsburg'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 Smithsburg or another part of Frederick County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Smithsburg, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$3,218
Ownwell’s Smithsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Smithsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smithsburg 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 Smithsburg, Maryland
Property taxes in Smithsburg, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Smithsburg is 1.22%, which is higher than the U.S. national median of 0.99%. Local government entities within Smithsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smithsburg 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 Smithsburg's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21783 zip code has the highest median property tax rate of 1.22%, while the 21783 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Smithsburg provides valuable insights into the varying tax landscape across Frederick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Smithsburg Tax Rate
1.22%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Smithsburg, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21783 | 1.16% | 1.21% | 1.22% | 1.24% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Smithsburg, Maryland
In Smithsburg, 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 Frederick 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 Smithsburg, 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 Smithsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Smithsburg is $263,750, with the median tax bill for the area being $3,141, consistent across zip code 21783.
Average Smithsburg Assessed Value
$263,750
Average Frederick County Assessed Value
$362,500
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Smithsburg, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21783 | $152,380 | $200,500 | $263,750 | $343,125 | $427,380 |
Source: Ownwell
Property Tax Bills Across Smithsburg, Maryland
In Smithsburg, located in Frederick 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 Smithsburg experience property tax rates that can result in a range of tax bills. For instance, the 25th percentile tax bill is $2,423, while the 75th percentile tax bill reaches $4,109, and the 90th percentile tax bill goes up to $5,099. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions. The median home price in Smithsburg is $263,750, and the median property tax bill is $3,141, which aligns with the national median property tax rate of 0.99%. Higher assessed values lead to higher tax bills, impacting homeowners by increasing their annual financial obligations. Understanding these factors can help homeowners better anticipate their property tax responsibilities.
Average Smithsburg Tax Bill
$3,141
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Smithsburg, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21783 | $1,709 | $2,423 | $3,141 | $4,109 | $5,099 |
Source: Ownwell