Little Orleans, Maryland Property Taxes
The median property tax rate in Little Orleans, MD is 1.06%, aligning with the Maryland state median but slightly above the national median of 0.99%. With the median home value in Little Orleans at $125,100, the typical annual property tax bill reaches $1,333, which is below the national median of $2,690. Property taxes in Little Orleans 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 Little Orleans' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Little Orleans or another part of Allegany County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Little Orleans, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,326
$1,231
Ownwell's Little Orleans Property Tax Bill Calculator is designed to help homeowners, real estate investors, and potential buyers estimate their annual property taxes in Little Orleans with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little Orleans 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 Little Orleans, Maryland
Property taxes in Little Orleans, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Little Orleans is 1.06%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Little Orleans set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Orleans 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 Little Orleans' effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 21766 has the highest median property tax rate of 1.06%, while the same zip code also represents the lowest median tax rate of 1.06%. Understanding how these cities compare with Little Orleans provides valuable insights into the varying tax landscape across Allegany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Little Orleans Tax Rate
1.06%
Average Allegany County Tax Rate
0.93%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Little Orleans, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21766 | 1.02% | 1.05% | 1.06% | 1.07% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Little Orleans, Maryland
In Little Orleans, 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 Allegany 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 Little Orleans, 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 Little Orleans helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1333 in zip code 21766, which is also the lowest median tax bill.
Property Tax Assessment Values Across Little Orleans, Maryland
Source: Ownwell
$28,400
$128,475
$228,550
Average Little Orleans Assessed Value
$125,100
Average Allegany County Assessed Value
$102,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Little Orleans, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21766 | $44,320 | $73,325 | $125,100 | $172,275 | $231,230 |
Source: Ownwell
Property Tax Bills Across Little Orleans, Maryland
In Little Orleans, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by local tax assessors who evaluate the market value of the property. For instance, with a median home price of $125,100, the tax bill is influenced significantly by this valuation. Homeowners in Little Orleans can expect their tax bills to vary. The 25th percentile of tax bills is around $755, while the 75th percentile reaches up to $1,813. For those in the higher range, the 90th percentile tax bill can be as high as $2,349. These figures illustrate the range of property tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, Little Orleans presents a unique landscape for property taxes. Understanding these factors is crucial for homeowners as they impact overall housing costs and financial planning.
Average Little Orleans Tax Bill
$1,333
Average Allegany County Tax Bill
$978
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Little Orleans, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21766 | $469 | $755 | $1,333 | $1,813 | $2,349 |
Source: Ownwell