Stockton, Maryland Property Taxes
The median property tax rate in Stockton, Maryland is 0.68%, considerably lower than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Stockton at $141,800, the typical annual property tax bill reaches $925, which is significantly below the national median of $2,690. Property taxes in Stockton 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 Stockton'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 Stockton 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
Stockton, 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 Stockton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stockton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stockton 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 Stockton, Maryland
Property taxes in Stockton, Maryland, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Stockton is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Stockton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stockton 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 Stockton's effective property tax rate to other areas in Worcester County and the national median. For comparison, the zip code 21864 has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Stockton 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 Stockton Tax Rate
0.68%
Average Worcester County Tax Rate
1.41%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stockton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21864 | 0.51% | 0.60% | 0.68% | 0.77% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Stockton, Maryland
In Stockton, 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 Stockton, 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 Stockton is $141,800, with tax bills ranging from $590 at the 25th percentile to $2,172 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 21864, at $925. 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 Stockton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stockton Assessed Value
$141,800
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 Stockton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21864 | $64,480 | $101,850 | $141,800 | $200,350 | $298,260 |
Source: Ownwell
Property Tax Bills Across Stockton, Maryland
In Stockton, property tax bills are calculated based on the assessed value of the home and the local tax rate set by Worcester County. The median home price in Stockton is $141,800, and the assessed value is used to determine the tax bill. The county applies its tax rate to this assessed value to arrive at the annual property tax amount. Factors such as property size, location, and improvements can influence the assessed value, and therefore, the final tax bill. Homeowners in Stockton can expect their property tax bills to range significantly. For instance, the tax bill at the 25th percentile is $590, while at the 75th percentile, it is $1,436. Those at the 90th percentile might see tax bills as high as $2,172. These variations highlight the impact of property characteristics and valuations on tax obligations. Compared to the national median property tax rate of 0.99%, Stockton’s rates and resulting tax bills provide a diverse financial landscape for homeowners, influencing decisions on homeownership and property investments.
Average Stockton Tax Bill
$925
Average Worcester County Tax Bill
$2,901
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Stockton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21864 | $397 | $590 | $925 | $1,436 | $2,172 |
Source: Ownwell