Capitol Heights, Maryland Property Taxes
The median property tax rate in Capitol Heights, MD is 1.11%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Capitol Heights at $243,500, the typical annual property tax bill reaches $2,931, exceeding the national median of $2,690. Property taxes in Capitol Heights 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 Capitol Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Capitol Heights 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
Capitol Heights, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,703
Ownwell’s Capitol Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Capitol Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Capitol Heights 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 Capitol Heights, Maryland
Property taxes in Capitol Heights, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Capitol Heights is 1.11%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Capitol Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Capitol Heights 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 Capitol Heights' effective property tax rate to other counties in Maryland and the national median. For comparison, the 20743 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Capitol Heights provides valuable insights into the varying tax landscape across Prince George's County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Capitol Heights Tax Rate
1.11%
Average Prince George's County Tax Rate
1.11%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Capitol Heights, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20743 | 1.11% | 1.11% | 1.11% | 1.11% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Capitol Heights, Maryland
In Capitol Heights, 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 Prince George's 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. Assessment notices in Capitol Heights 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. The median home price in Capitol Heights is $243,500, with tax bills ranging from $2,535 at the 25th percentile to $3,887 at the 90th percentile. The zip code 20743 has the highest median tax bill at $2,931. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Capitol Heights, Maryland
Source: Ownwell
$223,000
$390,725
$558,450
Average Capitol Heights Assessed Value
$243,500
Average Prince George's County Assessed Value
$345,300
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Capitol Heights, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20743 | $182,400 | $215,000 | $243,500 | $277,100 | $322,850 |
Source: Ownwell
Property Tax Bills Across Capitol Heights, Maryland
In Capitol Heights, located in Prince George's County, MD, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county's assessor and reflects the market value of the home. Homeowners in Capitol Heights face a median property tax rate that aligns with the county's standards. The median home price in the area is $243,500, which serves as a baseline for calculating property taxes. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For instance, the tax bill for the 25th percentile is approximately $2,535, while the 75th percentile sees bills around $3,387. At the 90th percentile, homeowners might pay up to $3,887. The highest and lowest median tax bills in the area are both recorded at $2,931 in the 20743 zip code. These property taxes significantly impact homeowners, influencing their annual budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, Capitol Heights homeowners experience a tax rate that reflects the local economic conditions and property values.
Average Capitol Heights Tax Bill
$2,931
Average Prince George's County Tax Bill
$3,870
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Capitol Heights, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20743 | $2,156 | $2,535 | $2,931 | $3,387 | $3,887 |
Source: Ownwell