Halethorpe, Maryland Property Taxes
The median property tax rate in Halethorpe, MD is 0.98%, slightly below the state median of 1.06% and just under the national median of 0.99%. With a median home value of $231,750 in Halethorpe, the typical annual property tax bill is $2,112, which is lower than the national median of $2,690. Property taxes in Halethorpe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Halethorpe'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 Halethorpe or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Halethorpe, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$2,271
$2,108
Ownwell’s Halethorpe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Halethorpe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Halethorpe 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 Halethorpe, Maryland
Property taxes in Halethorpe, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Halethorpe is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within Halethorpe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Halethorpe 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 Halethorpe's effective property tax rate to other areas in Maryland and the national median. For comparison, the 21227 zip code has a median property tax rate of 0.98%, which is consistent across the region. Understanding how these areas compare with Halethorpe 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 Halethorpe Tax Rate
0.98%
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 Halethorpe, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21227 | 0.77% | 0.81% | 0.98% | 0.99% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Halethorpe, Maryland
In Halethorpe, 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 Halethorpe, 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 Halethorpe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In the 21227 zip code, the median tax bill is $2,112, reflecting the local property values and tax policies.
Property Tax Assessment Values Across Halethorpe, Maryland
Source: Ownwell
$224,750
$1,053,975
$1,883,200
Average Halethorpe Assessed Value
$231,750
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 Halethorpe, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21227 | $201,350 | $208,525 | $231,750 | $259,500 | $281,950 |
Source: Ownwell
Property Tax Bills Across Halethorpe, Maryland
In Halethorpe, located in Anne Arundel County, MD, property tax bills are calculated based on the assessed value of your home. The county determines the assessed value through a periodic evaluation, which considers factors like the property's market value, location, and any improvements made. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Halethorpe can expect a median property tax bill of around $2,112, which is significantly higher than the national median property tax rate of 0.99%. For instance, homes in the 25th percentile of assessed values have tax bills around $1,913, while those in the 75th percentile see bills closer to $2,438. The highest tax bills, in the 90th percentile, can reach up to $2,597. These tax bills can significantly impact homeowners, influencing decisions on property investments and home improvements. Understanding how these taxes are calculated is crucial for effective financial planning and property management.
Average Halethorpe Tax Bill
$2,112
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 Halethorpe, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21227 | $1,672 | $1,913 | $2,112 | $2,438 | $2,597 |
Source: Ownwell