Oxon Hill, Maryland Property Taxes
The median property tax rate in Oxon Hill, MD is 1.06%, slightly higher than the national median of 0.99% and matching Maryland's state median of 1.06%. With the median home value in Oxon Hill at $296,000, the typical annual property tax bill reaches $3,272, significantly exceeding the national median of $2,690. Property taxes in Oxon Hill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence exemption. Understanding Oxon Hill'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 Oxon Hill 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
Oxon Hill, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$3,138
Ownwell’s Oxon Hill Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Oxon Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oxon Hill to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more granular insights, you can find localized information on neighborhood trends by scrolling down. Your property’s assessed value is the value assigned by Prince George's County for property tax calculations, accounting for any applicable exemptions.
Property Tax Rates Across Oxon Hill, Maryland
Property taxes in Oxon Hill, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxon Hill is 1.06%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Oxon Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxon Hill 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 Oxon Hill's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20745 zip code has the highest median property tax rate of 1.06%, while the same 20745 zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Oxon Hill 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 Oxon Hill Tax Rate
1.06%
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 Oxon Hill, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20745 | 1.02% | 1.04% | 1.06% | 1.11% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Oxon Hill, Maryland
In Oxon Hill, 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. In Oxon Hill, 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 Oxon Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oxon Hill is $296,000, with tax bills ranging from $2,680 at the 25th percentile to $5,055 at the 90th percentile. The highest and lowest median tax bills are both $3,272 in the 20745 zip code.
Average Oxon Hill Assessed Value
$296,000
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 Oxon Hill, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20745 | $175,000 | $246,500 | $296,000 | $353,600 | $457,120 |
Source: Ownwell
Property Tax Bills Across Oxon Hill, Maryland
In Oxon Hill, located in Prince George's County, MD, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $296,000, homeowners can expect varying tax bills. The 25th percentile tax bill is approximately $2,680, while the 75th percentile reaches around $3,926. At the 90th percentile, tax bills can climb to $5,055. Several factors influence these figures, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the property tax rates in Oxon Hill can significantly impact homeowners' finances. The highest and lowest median tax bills within the area are both recorded at $3,272 in the 20745 zip code, indicating a relatively consistent tax environment within this region. Understanding these factors helps homeowners anticipate their financial obligations more accurately.
Average Oxon Hill Tax Bill
$3,272
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 Oxon Hill, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20745 | $2,216 | $2,680 | $3,272 | $3,926 | $5,055 |
Source: Ownwell