Cascade, Maryland Property Taxes
The median property tax rate in Cascade, MD is 1.00%, slightly above the national median of 0.99% but below the Maryland state median of 1.06%. With a median home value of $175,700 in Cascade, the typical annual property tax bill amounts to $1,730, which is lower than the national median of $2,690. Property taxes in Cascade are determined based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Cascade's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cascade or another part of Washington County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cascade, 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 Cascade Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cascade, MD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cascade to provide an estimate of 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 Cascade, Maryland
Property taxes in Cascade, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cascade is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Cascade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cascade 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 Cascade's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21719 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Cascade provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cascade Tax Rate
1.00%
Average Washington County Tax Rate
0.92%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cascade, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21719 | 0.96% | 0.98% | 1.00% | 1.01% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Cascade, Maryland
In Cascade, 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 Washington 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 Cascade, 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 Cascade helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 21719 has the highest median tax bill of $1,730.
Average Cascade Assessed Value
$175,700
Average Washington County Assessed Value
$219,600
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cascade, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21719 | $110,290 | $141,725 | $175,700 | $223,325 | $289,360 |
Source: Ownwell
Property Tax Bills Across Cascade, Maryland
In Cascade, Washington 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 Cascade is $175,700. Property tax rates are applied to this assessed value to determine the annual tax bill. For example, homeowners in Cascade can expect to pay a tax bill ranging from the 25th percentile at $1,407 to the 75th percentile at $2,155, with the 90th percentile reaching up to $2,792. Factors influencing these tax bills include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners with properties in the highest median tax bill zip code, 21719, can expect a median tax bill of $1,730. These property taxes fund essential public services such as schools, infrastructure, and emergency services, making them a crucial part of the community's financial ecosystem. Homeowners must budget for these taxes annually, as they significantly impact overall homeownership costs.
Average Cascade Tax Bill
$1,730
Average Washington County Tax Bill
$1,934
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Cascade, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21719 | $1,107 | $1,407 | $1,730 | $2,155 | $2,792 |
Source: Ownwell