Still Pond, Maryland Property Taxes
The median property tax rate in Still Pond, MD is 1.14%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Still Pond at $168,100, the typical annual property tax bill reaches $1,880, which is below the national median of $2,690. Property taxes in Still Pond 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 Still Pond'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 Still Pond 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
Still Pond, 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 Still Pond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Still Pond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Still Pond 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 Still Pond, Maryland
Property taxes in Still Pond, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Still Pond is 1.14%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Still Pond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Still Pond 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 Still Pond's effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 21667 has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these areas compare with Still Pond provides valuable insights into the varying tax landscape across Kent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Still Pond Tax Rate
1.14%
Average Kent County Tax Rate
1.12%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Still Pond, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21667 | 0.97% | 1.04% | 1.14% | 1.16% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Still Pond, Maryland
In Still Pond, 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 Kent 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 Still Pond, 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 Still Pond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 21667 has the highest and lowest median tax bill at $1,880, reflecting the uniformity in property taxes across the region.
Average Still Pond Assessed Value
$168,100
Average Kent County Assessed Value
$227,650
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Still Pond, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21667 | $97,900 | $128,800 | $168,100 | $267,600 | $426,600 |
Source: Ownwell
Property Tax Bills Across Still Pond, Maryland
In Still Pond, located in Kent County, MD, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $168,100. The local property tax rate is applied to this assessed value to determine the annual tax bill. Factors that influence the tax bill include the property's assessed value, which is determined by local government assessments, and any applicable exemptions or deductions. For homeowners in Still Pond, the property tax bill can vary significantly. At the 25th percentile, the tax bill is approximately $1,464, while at the 75th percentile, it rises to about $2,664. The 90th percentile sees tax bills as high as $4,440. This range illustrates how property values and the corresponding tax rates can impact homeowners differently. Compared to the national median property tax rate of 0.99%, the rates in Still Pond can lead to varying financial obligations for property owners, influencing their annual budgeting and financial planning.
Average Still Pond Tax Bill
$1,880
Average Kent County Tax Bill
$2,628
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Still Pond, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21667 | $891 | $1,464 | $1,880 | $2,664 | $4,440 |
Source: Ownwell