Perryman, Maryland Property Taxes
The median property tax rate in Perryman, MD is 1.07%, slightly above both the national median of 0.99% and Maryland's state median of 1.06%. With a median home value of $173,400 in Perryman, the typical annual property tax bill is around $1,802, which is lower than the national median of $2,690. Property taxes in Perryman are calculated based on the tax assessed value, generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Perryman'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 Perryman 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
Perryman, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,855
Ownwell’s Perryman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perryman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perryman 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 Perryman, Maryland
Property taxes in Perryman, Maryland, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Perryman is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Perryman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perryman 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 Perryman's effective property tax rate to other areas and the national median. For comparison, the zip code 21130 has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these areas compare with Perryman 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 Perryman 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 Perryman, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21130 | 0.88% | 1.06% | 1.07% | 1.07% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Perryman, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Perryman, Maryland. 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 Perryman, 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 Perryman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Perryman is $173,400, with the 25th percentile tax bill at $1,522 and the 75th percentile tax bill at $2,024. The zip code 21130 has both the highest and lowest median tax bills at $1,802.
Average Perryman Assessed Value
$173,400
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 Perryman, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21130 | $124,600 | $150,500 | $173,400 | $190,700 | $229,700 |
Source: Ownwell
Property Tax Bills Across Perryman, Maryland
In Perryman, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor’s office. The assessed value is a percentage of the property's market value. For homeowners in Harford County, where Perryman is located, the median home price is $173,400. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. In Perryman, the tax bill for the 25th percentile is $1,522, while the 75th percentile sees a tax bill of $2,024. The highest tax bill in the area goes up to $2,469. These figures indicate that homeowners in Perryman pay property taxes slightly above the national median rate of 0.99%, impacting their annual expenses and overall cost of homeownership.
Average Perryman Tax Bill
$1,802
Average Harford County Tax Bill
$2,716
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Perryman, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21130 | $1,213 | $1,522 | $1,802 | $2,024 | $2,469 |
Source: Ownwell