Abell, Maryland Property Taxes
The median property tax rate in Abell, MD is 1.08%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Abell at $347,400, the typical annual property tax bill reaches $3,679, exceeding the national median of $2,690. Property taxes in Abell 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 Abell'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 Abell 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
Abell, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,752
Ownwell’s Abell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Abell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Abell 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 Abell, Maryland
Property taxes in Abell, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Abell is 1.08%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Abell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Abell 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 Abell's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20606 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Abell provides valuable insights into the varying tax landscape across St. Mary's County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Abell Tax Rate
1.08%
Average St. Mary's County Tax Rate
1.05%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Abell, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20606 | 0.98% | 1.06% | 1.08% | 1.11% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Abell, Maryland
In Abell, 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 St. Mary'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 Abell, 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 Abell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,679 in zip code 20606.
Average Abell Assessed Value
$347,400
Average St. Mary's County Assessed Value
$302,600
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Abell, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20606 | $163,000 | $231,000 | $347,400 | $446,700 | $566,500 |
Source: Ownwell
Property Tax Bills Across Abell, Maryland
In Abell, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. This assessed value is then multiplied by the tax rate set by St. Mary's County. For instance, with a median home price of $347,400, homeowners may expect a wide range in their property tax bills. The 25th percentile tax bill is $2,478, while the 75th percentile tax bill is $4,851, and the 90th percentile tax bill reaches up to $5,997. These figures highlight the variability in tax bills, which can be influenced by factors such as property improvements, neighborhood changes, and overall market conditions. Compared to the national median property tax rate of 0.99%, homeowners in Abell could find their tax obligations to be significantly different. This variability in property tax bills can impact homeowners' financial planning and long-term investment decisions, making it crucial to understand how local tax assessments and rates affect their annual expenses.
Average Abell Tax Bill
$3,679
Average St. Mary's County Tax Bill
$3,095
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Abell, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20606 | $1,640 | $2,478 | $3,679 | $4,851 | $5,997 |
Source: Ownwell