Lothian, Maryland Property Taxes
The median property tax rate in Lothian, MD is 1.06%, slightly higher than the national median of 0.99%. With the median home value in Lothian at $415,200, the typical annual property tax bill reaches $4,161, significantly exceeding the national median of $2,690. Property taxes in Lothian are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lothian'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 Lothian or another part of Anne Arundel County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lothian, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$4,401
$4,084
Ownwell’s Lothian Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lothian with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lothian 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 Lothian, Maryland
Property taxes in Lothian, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lothian is 1.06%, higher than the U.S. national median of 0.99%. Local government entities within Lothian set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lothian 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 Lothian's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 20711 has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Lothian 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 Lothian Tax Rate
1.06%
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 Lothian, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20711 | 0.81% | 0.89% | 1.06% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Lothian, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lothian, Maryland. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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. Assessment notices in Lothian 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 Lothian helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lothian are both $4,161, found in the 20711 zip code.
Average Lothian Assessed Value
$415,200
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 Lothian, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20711 | $238,180 | $324,000 | $415,200 | $562,900 | $746,240 |
Source: Ownwell
Property Tax Bills Across Lothian, Maryland
In Lothian, Anne Arundel County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Lothian, the median home price is $415,200, and property tax bills can vary significantly. The 25th percentile tax bill is $3,160, while the 75th percentile reaches $5,941, and the 90th percentile can go up to $7,866. This variation shows how different factors impact the final tax bill. Compared to the national median property tax rate of 0.99%, Lothian's tax rates result in a relatively high tax burden for homeowners, reflecting the area's property values and local tax policies. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Lothian Tax Bill
$4,161
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 Lothian, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20711 | $2,653 | $3,160 | $4,161 | $5,941 | $7,866 |
Source: Ownwell