Annapolis, Maryland Property Taxes
The median property tax rate in Annapolis, MD is 1.09%, higher than both the national median of 0.99% and Maryland's state median of 1.06%. With the median home value in Annapolis at $424,500, the typical annual property tax bill reaches $4,568, surpassing the national median of $2,690. Property taxes in Annapolis 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 Annapolis'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 Annapolis 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
Annapolis, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$4,627
Ownwell’s Annapolis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Annapolis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Annapolis 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 Annapolis, Maryland
Property taxes in Annapolis, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Annapolis is 1.09%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Annapolis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Annapolis 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 Annapolis's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21402 zip code has the highest median property tax rate of 1.44%, while the 21405 zip code has the lowest median tax rate of 0.94%. Understanding how these cities compare with Annapolis provides valuable insights into the varying tax landscape across Anne Arundel County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Annapolis Tax Rate
1.09%
Average Anne Arundel County Tax Rate
0.97%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Annapolis, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21401 | 0.81% | 0.98% | 1.09% | 1.44% | 1.44% |
| 21402 | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% |
| 21403 | 0.77% | 1.09% | 1.24% | 1.44% | 1.44% |
| 21405 | 0.45% | 0.64% | 0.94% | 0.98% | 1.00% |
| 21409 | 0.66% | 0.75% | 1.00% | 1.06% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Annapolis, Maryland
In Annapolis, 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 Anne Arundel 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 Annapolis, 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 example, the highest median tax bill in Annapolis is $22,672 in the 21402 zip code, while the lowest median tax bill is $4,074 in the 21409 zip code. Being aware of these valuation processes in Annapolis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Annapolis, Maryland
Source: Ownwell
$224,750
$1,053,975
$1,883,200
Average Annapolis Assessed Value
$424,500
Average Anne Arundel County Assessed Value
$376,600
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Annapolis, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21401 | $201,600 | $294,700 | $431,200 | $618,200 | $856,820 |
| 21402 | $157,880 | $394,700 | $789,400 | $1,184,100 | $1,420,920 |
| 21403 | $206,290 | $280,225 | $409,950 | $584,200 | $937,900 |
| 21405 | $815,940 | $899,650 | $1,100,600 | $1,343,100 | $1,619,520 |
| 21409 | $276,660 | $349,700 | $419,500 | $640,300 | $963,880 |
Source: Ownwell
Property Tax Bills Across Annapolis, Maryland
In Annapolis, located in Anne Arundel County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the county’s property assessment office. The assessed value typically reflects the market value of the property, though it may be adjusted for various factors such as improvements or depreciation. Once the assessed value is established, the property tax rate is applied to this value to determine the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Annapolis, the median home price is $424,500. Tax bills can vary significantly, with the 25th percentile at $3,245 and the 75th percentile at $6,845. The highest median tax bill in the area can reach up to $22,672, particularly in zip code 21402, while the lowest median tax bill is $4,074 in zip code 21409. These variations can significantly impact homeowners' annual financial planning and budgeting.
Average Annapolis Tax Bill
$4,568
Average Anne Arundel County Tax Bill
$3,553
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Annapolis, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21401 | $2,509 | $3,185 | $4,783 | $7,006 | $10,196 |
| 21402 | $22,672 | $22,672 | $22,672 | $22,672 | $22,672 |
| 21403 | $2,820 | $3,536 | $4,645 | $6,898 | $10,607 |
| 21405 | $4,608 | $7,530 | $9,123 | $11,255 | $14,356 |
| 21409 | $2,422 | $2,940 | $4,074 | $6,030 | $8,812 |
Source: Ownwell