Pittsville, Maryland Property Taxes
The median property tax rate in Pittsville, MD is 0.83%, which is lower than both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value in Pittsville of $170,950, the typical annual property tax bill amounts to $1,405, significantly below the national median of $2,690. Property taxes in Pittsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pittsville'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 Pittsville 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
Pittsville, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,419
Ownwell’s Pittsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pittsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pittsville 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 Pittsville, Maryland
Property taxes in Pittsville, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pittsville is 0.83%, lower than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Pittsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pittsville 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 Pittsville's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21850 zip code has the highest median property tax rate of 0.83%, while the 21850 zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Pittsville provides valuable insights into the varying tax landscape across Wicomico County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pittsville Tax Rate
0.83%
Average Wicomico County Tax Rate
0.94%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pittsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21850 | 0.72% | 0.79% | 0.83% | 0.86% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Pittsville, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pittsville, Maryland. The market value represents 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 Wicomico 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 Pittsville, 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. For instance, the median home price in Pittsville is $170,950, with tax bills ranging from $909 at the 25th percentile to $2,520 at the 90th percentile. The zip code 21850 has the highest median tax bill at $1,405. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pittsville Assessed Value
$170,950
Average Wicomico County Assessed Value
$161,300
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pittsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21850 | $71,500 | $105,975 | $170,950 | $251,400 | $322,770 |
Source: Ownwell
Property Tax Bills Across Pittsville, Maryland
In Pittsville, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Pittsville, located in Wicomico County, face property tax bills that vary significantly based on their home's value. For instance, the median home price is $170,950. At the 25th percentile, homeowners can expect a tax bill around $909, while those at the 75th percentile may see bills up to $2003. The highest tax bills, at the 90th percentile, reach approximately $2520. These amounts are influenced by various factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Pittsville's property tax rates reflect a range that can impact household budgets differently. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations and manage their finances accordingly.
Average Pittsville Tax Bill
$1,405
Average Wicomico County Tax Bill
$1,455
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Pittsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21850 | $630 | $909 | $1,405 | $2,003 | $2,520 |
Source: Ownwell