Greensboro, Maryland Property Taxes
The median property tax rate in Greensboro, MD is 1.04%, slightly higher than the national median of 0.99% yet slightly lower than the Maryland state median of 1.06%. With a median home value of $224,600 in Greensboro, the typical annual property tax bill reaches $2,622, which is just below the national median of $2,690. Property taxes in Greensboro are based on the assessed value, which usually falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Greensboro'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 Greensboro or another part of Caroline County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greensboro, Maryland Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,120
Ownwell’s Greensboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greensboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greensboro 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 Greensboro, Maryland
Property taxes in Greensboro, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greensboro is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Greensboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greensboro 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 Greensboro's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21639 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Greensboro provides valuable insights into the varying tax landscape across Caroline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greensboro Tax Rate
1.04%
Average Caroline County Tax Rate
1.08%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greensboro, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21639 | 0.91% | 0.99% | 1.04% | 1.50% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Greensboro, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Greensboro, MD. 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 Caroline 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 Greensboro, 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 Greensboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 21639 has the highest median tax bill at $2,622, while the lowest median tax bill is also $2,622.
Average Greensboro Assessed Value
$224,600
Average Caroline County Assessed Value
$216,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greensboro, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21639 | $129,090 | $174,775 | $224,600 | $289,425 | $374,710 |
Source: Ownwell
Property Tax Bills Across Greensboro, Maryland
Property tax bills in Greensboro, located in Caroline County, MD, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the home. For example, with a median home price of $224,600, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $2,042, while those in the 75th percentile might see a bill closer to $3,279. At the 90th percentile, the tax bill can reach up to $4,102. The local tax rate, when applied to the assessed value, determines the final tax bill. This rate can vary by jurisdiction. Property taxes fund essential public services such as schools, emergency services, and infrastructure. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Greensboro’s rates reflect the local economic conditions and priorities.
Average Greensboro Tax Bill
$2,622
Average Caroline County Tax Bill
$2,469
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Greensboro, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21639 | $1,528 | $2,042 | $2,622 | $3,279 | $4,102 |
Source: Ownwell