Odenton, Maryland Property Taxes
The median property tax rate in Odenton, MD is 0.96%, slightly below the state median of 1.06% but still competitive compared to the national median of 0.99%. With a median home value of $366,350, the typical annual property tax bill in Odenton reaches $3,431, surpassing the national median of $2,690. Property taxes in Odenton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Odenton'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 Odenton 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
Odenton, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$3,517
Ownwell’s Odenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Odenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Odenton 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 Odenton, Maryland
Property taxes in Odenton, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Odenton is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Odenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Odenton 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 Odenton's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 21113 has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Odenton 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 Odenton Tax Rate
0.96%
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 Odenton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21113 | 0.72% | 0.89% | 0.96% | 1.00% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Odenton, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Odenton, Maryland. 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 Odenton, 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. In Odenton, the median home price is $366,350, with the median tax bill at $3,431. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Odenton Assessed Value
$366,350
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 Odenton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21113 | $265,440 | $313,375 | $366,350 | $470,425 | $676,430 |
Source: Ownwell
Property Tax Bills Across Odenton, Maryland
In Odenton, Anne Arundel County, MD, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by county assessors who evaluate the market value of homes. Several factors influence this valuation, including location, property size, and condition. Homeowners in Odenton can expect varying tax bills based on their property's assessed value. The median home price stands at $366,350, leading to a median tax bill of $3,431 in the 21113 zip code. This figure is notably higher than the national median property tax rate of 0.99%. For those in the 25th percentile, tax bills are around $2,767, while the 75th percentile sees bills approximately $4,361. At the 90th percentile, homeowners might face tax bills as high as $6,735. These tax bills significantly impact homeowners' annual budgets, making it crucial to understand how property assessments and local tax rates influence their financial obligations.
Average Odenton Tax Bill
$3,431
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 Odenton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21113 | $2,316 | $2,767 | $3,431 | $4,361 | $6,735 |
Source: Ownwell