Greenbelt, Maryland Property Taxes
The median property tax rate in Greenbelt, MD is 1.71%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Greenbelt at $223,000, the typical annual property tax bill reaches $3,839, exceeding the national median of $2,690. Property taxes in Greenbelt 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 Greenbelt'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 Greenbelt 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
Greenbelt, 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 Greenbelt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenbelt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenbelt 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 Greenbelt, Maryland
Property taxes in Greenbelt, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenbelt is 1.71%, significantly higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Greenbelt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenbelt 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 Greenbelt's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20770 zip code has the highest median property tax rate of 1.71%, while the same zip code also has the lowest median tax rate of 1.71%. Understanding how these cities compare with Greenbelt 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 Greenbelt Tax Rate
1.71%
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 Greenbelt, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20770 | 1.64% | 1.68% | 1.71% | 1.74% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Greenbelt, Maryland
In Greenbelt, 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 Assessment Office 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 Greenbelt, 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 Greenbelt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Greenbelt, zip code 20770 has the highest and lowest median tax bills, both at $3,839.
Average Greenbelt Assessed Value
$223,000
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 Greenbelt, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20770 | $135,000 | $162,100 | $223,000 | $333,700 | $460,580 |
Source: Ownwell
Property Tax Bills Across Greenbelt, Maryland
In Greenbelt, located in Prince George's County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Greenbelt is $223,000, and the 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 size, location, and any improvements made to the home. Homeowners in Greenbelt experience a range of tax bills. For example, those in the 25th percentile pay around $2,801 annually, while those in the 75th percentile face a tax bill of approximately $5,744. At the higher end, the 90th percentile tax bill reaches $8,044. The highest and lowest median tax bills in the area are both $3,839, specifically in the 20770 zip code. These property tax bills have a significant impact on homeowners, affecting their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Greenbelt's rates can vary, influencing the affordability and desirability of homes in the area.
Average Greenbelt Tax Bill
$3,839
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 Greenbelt, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20770 | $1,835 | $2,801 | $3,839 | $5,744 | $8,044 |
Source: Ownwell