Pasadena, Maryland Property Taxes
The median property tax rate in Pasadena, MD is 1.00%, slightly higher than the national median of 0.99% but lower than Maryland's state median of 1.06%. With a median home value of $328,700 in Pasadena, the typical annual property tax bill amounts to $3,087, surpassing the national median of $2,690. Property taxes in Pasadena are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Pasadena'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 Pasadena 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
Pasadena, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$3,287
$3,050
Ownwell’s Pasadena Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Pasadena with just two data points. By entering your property’s estimated assessed value, the calculator applies the median tax rate in Pasadena 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 Pasadena, Maryland
Property taxes in Pasadena, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pasadena is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Pasadena set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pasadena 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 Pasadena's effective property tax rate to other areas in Anne Arundel County and the national median. For comparison, the 21122 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these areas compare with Pasadena 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 Pasadena Tax Rate
1.00%
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 Pasadena, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21122 | 0.70% | 0.78% | 1.00% | 1.06% | 1.08% |
| 21123 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Pasadena, Maryland
In Pasadena, 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 Pasadena, 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 Pasadena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 21122, both at $3,087.
Average Pasadena Assessed Value
$328,700
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 Pasadena, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21122 | $234,500 | $270,375 | $328,700 | $429,525 | $579,250 |
| 21123 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Pasadena, Maryland
In Pasadena, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Pasadena, the median home price is $328,700. Property tax bills can vary significantly, with the 25th percentile tax bill at $2,456 and the 75th percentile reaching $4,074. The 90th percentile tax bill can be as high as $5,613. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Pasadena's property taxes can be relatively high, impacting homeowners' annual financial obligations. Understanding these factors helps homeowners anticipate their tax liabilities and plan accordingly. The highest and lowest median tax bills in Pasadena both stand at $3,087, reflecting the uniformity in certain areas within the 21122 zip code.
Average Pasadena Tax Bill
$3,087
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 Pasadena, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21122 | $2,017 | $2,456 | $3,087 | $4,074 | $5,613 |
| 21123 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell