Severn, Maryland Property Taxes
The median property tax rate in Severn, MD is 0.91%, which is lower than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Severn at $405,400, the typical annual property tax bill reaches $3,568, surpassing the national median of $2,690. Property taxes in Severn are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Severn'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 Severn 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
Severn, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$3,689
Ownwell’s Severn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Severn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Severn 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 Severn, Maryland
Property taxes in Severn, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Severn is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Severn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Severn 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 Severn's effective property tax rate to other areas in Anne Arundel County and the national median. For comparison, the 21144 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these rates compare with Severn 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 Severn Tax Rate
0.91%
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 Severn, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21144 | 0.67% | 0.77% | 0.91% | 0.96% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Severn, Maryland
In Severn, 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 Severn, 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. The median home price in Severn is $405,400, with property tax bills ranging significantly. For instance, the 25th percentile tax bill is $2,698, while the 75th percentile tax bill is $4,605, and the 90th percentile tax bill reaches $5,874. The zip code 21144 has both the highest and lowest median tax bill at $3,568. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Severn Assessed Value
$405,400
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 Severn, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21144 | $171,700 | $336,700 | $405,400 | $514,000 | $632,440 |
Source: Ownwell
Property Tax Bills Across Severn, Maryland
In Severn, Anne Arundel County, MD, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is derived from the market value of the home, which in Severn has a median home price of $405,400. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the tax bill. For homeowners in Severn, the property tax burden can vary significantly. The 25th percentile tax bill is around $2,698, while the 75th percentile reaches $4,605, and the 90th percentile can go up to $5,874. The median tax bill stands at $3,568, which is higher than the national median property tax rate of 0.99%. These taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding these factors can help homeowners anticipate their annual expenses and budget accordingly.
Average Severn Tax Bill
$3,568
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 Severn, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21144 | $1,926 | $2,698 | $3,568 | $4,605 | $5,874 |
Source: Ownwell