New Carrollton, Maryland Property Taxes
The median property tax rate in New Carrollton, MD is 1.59%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in New Carrollton at $307,800, the typical annual property tax bill reaches $4,907, far exceeding the national median of $2,690. Property taxes in New Carrollton 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 New Carrollton'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 New Carrollton 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
New Carrollton, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$4,894
Ownwell’s New Carrollton Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in New Carrollton. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in the area to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities, helping you make informed financial decisions. Additionally, if you're interested in more detailed trends at the neighborhood level, further localized information is available below. Your property's assessed value is determined by Prince George's County and includes any applicable exemptions for a precise tax calculation.
Property Tax Rates Across New Carrollton, Maryland
Property taxes in New Carrollton, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Carrollton is 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Carrollton set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Carrollton 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 New Carrollton's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20784 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with New Carrollton 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 New Carrollton Tax Rate
1.59%
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 New Carrollton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20784 | 1.59% | 1.59% | 1.59% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across New Carrollton, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in New Carrollton, 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 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 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 New Carrollton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In New Carrollton, the median home price is $307,800. The zip code with the highest median tax bill is 20784, where the median tax bill is $4,907. The same zip code also has the lowest median tax bill, illustrating the uniformity in tax assessments within the area.
Property Tax Assessment Values Across New Carrollton, Maryland
Source: Ownwell
$223,000
$390,725
$558,450
Average New Carrollton Assessed Value
$307,800
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 New Carrollton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20784 | $90,000 | $120,000 | $307,800 | $336,625 | $365,110 |
Source: Ownwell
Property Tax Bills Across New Carrollton, Maryland
In New Carrollton, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by Prince George's County. For instance, with a median home price of $307,800, homeowners can expect a significant variation in their tax bills. The tax bill at the 25th percentile is approximately $1,913, while at the 75th percentile, it rises to about $5,364. The highest median tax bill in the area is $4,907, indicating a considerable range based on property values and applicable exemptions. Several factors influence the final tax bill, including the home's assessed value, any applicable exemptions, and the specific tax rate for the area. These tax bills can significantly impact homeowners, affecting their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, homeowners in New Carrollton may find their tax obligations vary widely, emphasizing the importance of understanding local tax assessments and possible exemptions.
Average New Carrollton Tax Bill
$4,907
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 New Carrollton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20784 | $1,435 | $1,913 | $4,907 | $5,364 | $5,818 |
Source: Ownwell