Greenland Beach, Maryland Property Taxes
The median property tax rate in Greenland Beach, MD is 1.03%, slightly higher than the national median of 0.99% but lower than the Maryland state median of 1.06%. With a median home value of $413,300 in Greenland Beach, the typical annual property tax bill reaches $4,062, surpassing the national median of $2,690. Property taxes in Greenland Beach are determined based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding the property tax system in Greenland Beach, exploring various exemptions, and identifying potential reductions can lead to substantial annual savings. Whether you reside in the heart of Greenland Beach or its surrounding areas, gaining insights into the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenland Beach, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$4,257
$3,950
Ownwell’s Greenland Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenland Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenland Beach 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 Greenland Beach, Maryland
Property taxes in Greenland Beach, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenland Beach is 1.03%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Greenland Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenland Beach 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 Greenland Beach's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21226 zip code has the highest median property tax rate of 1.03%, while the 21226 zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Greenland Beach 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 Greenland Beach Tax Rate
1.03%
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 Greenland Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21226 | 0.68% | 0.82% | 1.03% | 1.05% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Greenland Beach, Maryland
In Greenland Beach, 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 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 Greenland Beach, 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 Greenland Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Greenland Beach, Maryland
Source: Ownwell
$224,750
$1,053,975
$1,883,200
Average Greenland Beach Assessed Value
$413,300
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 Greenland Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21226 | $263,180 | $302,400 | $413,300 | $503,300 | $594,000 |
Source: Ownwell
Property Tax Bills Across Greenland Beach, Maryland
In Greenland Beach, located in Anne Arundel County, MD, property tax bills are calculated based on the assessed value of your home. The local tax rate is applied to this assessed value to determine your annual tax bill. Several factors influence the assessed value, including the market value of similar homes in your area, recent sales data, and any improvements or changes made to the property. Homeowners in Greenland Beach experience a range of tax bills. For instance, the tax bill at the 25th percentile is $2,993, while at the 75th percentile, it climbs to $5,022. The highest median tax bill in the area reaches $4,062, specifically in the 21226 zip code. These figures highlight the variability in property taxes, influenced by the assessed values and local tax rates. Understanding how these taxes are calculated is crucial for homeowners, as it directly impacts their financial planning. High property taxes can significantly affect monthly budgets, while lower taxes might offer some financial relief.
Average Greenland Beach Tax Bill
$4,062
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 Greenland Beach, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21226 | $2,112 | $2,993 | $4,062 | $5,022 | $6,105 |
Source: Ownwell