Pocomoke City, Maryland Property Taxes
The median property tax rate in Pocomoke City, MD is 1.21%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Pocomoke City at $149,200, the typical annual property tax bill reaches $1,729, exceeding the national median of $2,690. Property taxes in Pocomoke City 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 Pocomoke City'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 Pocomoke City or another part of Worcester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pocomoke City, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,805
Ownwell’s Pocomoke City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pocomoke City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pocomoke City 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 Pocomoke City, Maryland
Property taxes in Pocomoke City, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pocomoke City is 1.21%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Pocomoke City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pocomoke City 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 Pocomoke City's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21851 zip code has the highest median property tax rate of 1.21%, while the same zip code has the lowest median tax rate of 1.21%. Understanding how these cities compare with Pocomoke City provides valuable insights into the varying tax landscape across Worcester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pocomoke City Tax Rate
1.21%
Average Worcester County Tax Rate
1.41%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pocomoke City, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21851 | 0.71% | 0.79% | 1.21% | 1.53% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Pocomoke City, Maryland
In Pocomoke City, 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 Worcester 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 Pocomoke City, 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. The median home price in Pocomoke City stands at $149,200, with the 25th percentile tax bill at $1,083 and the 75th percentile tax bill at $2,465. The highest median tax bill is $1,729 in zip code 21851, which is also the lowest median tax bill in the area. 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 Pocomoke City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pocomoke City, Maryland
Source: Ownwell
$139,000
$228,325
$317,650
Average Pocomoke City Assessed Value
$149,200
Average Worcester County Assessed Value
$251,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pocomoke City, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21851 | $75,960 | $110,100 | $149,200 | $204,600 | $287,400 |
Source: Ownwell
Property Tax Bills Across Pocomoke City, Maryland
In Pocomoke City within Worcester County, MD, property tax bills are calculated based on the assessed value of a homeowner's property. The assessment is conducted periodically to determine the property's current market value, which serves as the basis for the tax calculation. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including property size, location, and recent sales of comparable properties in the area. Homeowners in Pocomoke City can expect varying tax bills depending on these factors. The 25th percentile tax bill is around $1,083, while the 75th percentile tax bill reaches $2,465. For those at the higher end, the 90th percentile tax bill can be as much as $3,552. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Pocomoke City to understand how their local rates and property assessments impact their financial obligations. This understanding helps homeowners plan and budget effectively for their annual property taxes.
Average Pocomoke City Tax Bill
$1,729
Average Worcester County Tax Bill
$2,901
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Pocomoke City, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21851 | $673 | $1,083 | $1,729 | $2,465 | $3,552 |
Source: Ownwell