Abingdon, Maryland Property Taxes
The median property tax rate in Abingdon, MD is 1.06%, aligning with the Maryland state median but notably higher than the national median of 0.99%. With the median home value in Abingdon at $241,600, the typical annual property tax bill reaches $2,565, slightly below the national median of $2,690. Property taxes in Abingdon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Abingdon'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 Abingdon or another part of Harford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Abingdon, 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 Abingdon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Abingdon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Abingdon 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 Abingdon, Maryland
Property taxes in Abingdon, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Abingdon is 1.06%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Abingdon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Abingdon 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 Abingdon's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21009 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Abingdon provides valuable insights into the varying tax landscape across Harford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Abingdon Tax Rate
1.06%
Average Harford County Tax Rate
0.99%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Abingdon, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21009 | 1.04% | 1.05% | 1.06% | 1.06% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Abingdon, Maryland
In Abingdon, 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 Harford 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 Abingdon, 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 Abingdon 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 $2565 in zip code 21009, which is also the lowest median tax bill.
Average Abingdon Assessed Value
$241,600
Average Harford County Assessed Value
$279,650
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Abingdon, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21009 | $156,750 | $193,275 | $241,600 | $302,900 | $370,200 |
Source: Ownwell
Property Tax Bills Across Abingdon, Maryland
In Abingdon, MD, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the local assessor's office and serves as the basis for calculating the tax bill. Various factors such as the property's size, location, and condition influence the assessed value. In Harford County, where Abingdon is located, the median home price is $241,600. Homeowners in Abingdon can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is approximately $2,062, while the 75th percentile reaches up to $3,200. At the 90th percentile, it can go as high as $3,910. These figures indicate that property tax bills can vary widely depending on the assessed value and specific characteristics of each property. Understanding how property tax bills are calculated helps homeowners anticipate their annual expenses and plan accordingly. Given that the national median property tax rate is 0.99%, homeowners in Abingdon may find their rates comparable or slightly higher, depending on their property's assessed value.
Average Abingdon Tax Bill
$2,565
Average Harford County Tax Bill
$2,716
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Abingdon, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21009 | $1,786 | $2,062 | $2,565 | $3,200 | $3,910 |
Source: Ownwell