Charlotte Hall, Maryland Property Taxes
The median property tax rate in Charlotte Hall, MD is 1.05%, slightly higher than the national median of 0.99% but just below the Maryland state median of 1.06%. With a median home value of $313,700, the typical annual property tax bill in Charlotte Hall reaches $3,199, surpassing the national median of $2,690. Property taxes in Charlotte Hall are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Charlotte Hall'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 Charlotte Hall 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
Charlotte Hall, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$3,294
Ownwell’s Charlotte Hall Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Charlotte Hall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charlotte Hall 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 Charlotte Hall, Maryland
Property taxes in Charlotte Hall, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlotte Hall is 1.05%, higher than the U.S. national median of 0.99%. Local government entities within Charlotte Hall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlotte Hall 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 Charlotte Hall's effective property tax rate to other areas in St. Mary's County and the national median. For comparison, the 20622 zip code has the highest median property tax rate of 1.05%, while the 20622 zip code also has the lowest median tax rate of 1.05%. Understanding how these areas compare with Charlotte Hall 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 Charlotte Hall Tax Rate
1.05%
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 Charlotte Hall, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20622 | 0.94% | 1.01% | 1.05% | 1.07% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Charlotte Hall, Maryland
In Charlotte Hall, 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 Charlotte Hall, 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 Charlotte Hall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $3,199, which is found in the 20622 zip code. Similarly, the lowest median tax bill is also $3,199 in the same zip code.
Property Tax Assessment Values Across Charlotte Hall, Maryland
Source: Ownwell
$179,000
$350,150
$521,300
Average Charlotte Hall Assessed Value
$313,700
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 Charlotte Hall, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20622 | $219,020 | $265,800 | $313,700 | $366,550 | $429,800 |
Source: Ownwell
Property Tax Bills Across Charlotte Hall, Maryland
In Charlotte Hall, located in St. Mary'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. Several factors influence this assessment, including the property's market value, location, and any improvements or modifications made to the property. For instance, the median home price in Charlotte Hall is $313,700, which serves as a benchmark for many tax assessments. Homeowners in the 25th percentile typically see tax bills around $2,782, while those in the 75th percentile face bills closer to $3,701. At the higher end, the 90th percentile tax bills can reach up to $4,372. The highest median tax bill recorded in the area is $3,199, which is consistent across different zip codes. These property tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, the rates in Charlotte Hall reflect the area's specific economic and real estate dynamics.
Average Charlotte Hall Tax Bill
$3,199
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 Charlotte Hall, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20622 | $2,291 | $2,782 | $3,199 | $3,701 | $4,372 |
Source: Ownwell