Belcamp, Maryland Property Taxes
The median property tax rate in Belcamp, MD is 1.07%, slightly higher than both the national median of 0.99% and Maryland's state median of 1.06%. With the median home value in Belcamp at $173,800, the typical annual property tax bill reaches $1,852, falling below the national median of $2,690. Property taxes in Belcamp are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Belcamp'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 Belcamp 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
Belcamp, 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 Belcamp Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Belcamp with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Belcamp to provide an accurate estimate of your property tax bill. This valuable tool gives you a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Harford County for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Belcamp, Maryland
Property taxes in Belcamp, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belcamp is 1.07%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Belcamp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belcamp 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 Belcamp's effective property tax rate to other areas in Harford County and the national median. For comparison, the 21017 zip code has the highest median property tax rate of 1.07%, while the same zip code has the lowest median tax rate of 1.07%. Understanding how these cities compare with Belcamp 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 Belcamp Tax Rate
1.07%
Average Harford County Tax Rate
0.99%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belcamp, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21017 | 1.04% | 1.05% | 1.07% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Belcamp, Maryland
Understanding the distinction between "market value" and "assessed value" is essential for comprehending property taxes in Belcamp, Maryland. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. For tax purposes, this value is estimated by the Harford County assessment office. Conversely, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. This assessed value is then used to calculate property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Belcamp, 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. For instance, the median home price in Belcamp is $173,800, with tax bills ranging from $1,600 at the 25th percentile to $3,066 at the 90th percentile. The zip code 21017 has the highest and lowest median tax bill of $1,852. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage their tax burden.
Average Belcamp Assessed Value
$173,800
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 Belcamp, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21017 | $110,000 | $147,900 | $173,800 | $218,850 | $289,960 |
Source: Ownwell
Property Tax Bills Across Belcamp, Maryland
In Belcamp, located in Harford 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 property's market value. Homeowners in Belcamp can expect their property tax bills to vary depending on several factors, including the assessed value of their home and the local tax rate. For instance, the median home price in Belcamp is $173,800. The property tax rate in Harford County is applied to this assessed value to determine the annual tax bill. Homeowners typically see tax bills ranging from $1,600 at the 25th percentile to $3,066 at the 90th percentile, with the highest median tax bill recorded at $1,852 in the 21017 zip code. These tax bills can significantly impact homeowners by adding to their annual expenses. Understanding how these taxes are calculated helps homeowners budget more effectively and anticipate their financial obligations. Compared to the national median property tax rate of 0.99%, Belcamp's rates can provide insights into the local tax burden.
Average Belcamp Tax Bill
$1,852
Average Harford County Tax Bill
$2,716
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Belcamp, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21017 | $1,242 | $1,600 | $1,852 | $2,348 | $3,066 |
Source: Ownwell