Westminster, Maryland Property Taxes
The median property tax rate in Westminster, MD is 1.13%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Westminster, the typical annual property tax bill reaches $3,633, exceeding the national median of $2,690. Property taxes in Westminster are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Westminster'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 Westminster or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westminster, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$3,570
$3,313
Ownwell’s Westminster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westminster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westminster 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 Westminster, Maryland
Property taxes in Westminster, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westminster is 1.13%, which is higher than the U.S. national median of 0.99%. Local government entities within Westminster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westminster 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 Westminster's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21157 zip code in Westminster has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Westminster provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Westminster Tax Rate
1.13%
Average Carroll County Tax Rate
1.10%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westminster, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21157 | 0.96% | 1.02% | 1.13% | 1.13% | 1.69% |
| 21158 | 0.97% | 1.02% | 1.13% | 1.69% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Westminster, Maryland
In Westminster, 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 Carroll 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 Westminster, 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 Westminster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Westminster is $3,767 in the 21158 zip code, while the lowest is $3,553 in the 21157 zip code.
Average Westminster Assessed Value
$315,900
Average Carroll County Assessed Value
$347,000
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Westminster, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21157 | $175,800 | $237,775 | $318,600 | $418,925 | $532,230 |
| 21158 | $194,180 | $233,000 | $312,000 | $388,200 | $478,220 |
Source: Ownwell
Property Tax Bills Across Westminster, Maryland
In Westminster, Carroll County, MD, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's assessment office and reflects the market value of the property. Homeowners in Westminster experience a range of property tax bills, with the 25th percentile at $2,974, the 75th percentile at $4,629, and the 90th percentile reaching $6,149. The highest median tax bill in the area is $3,767, found in the 21158 zip code, while the lowest median tax bill is $3,553 in the 21157 zip code. Compared to the national median property tax rate of 0.99%, these figures highlight the variability and potential financial impact on homeowners in Westminster. Factors such as property size, location, and any applicable exemptions also play a crucial role in determining the final tax bill. Understanding these elements is essential for homeowners to manage their finances effectively and anticipate annual tax obligations.
Average Westminster Tax Bill
$3,633
Average Carroll County Tax Bill
$3,882
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Westminster, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21157 | $2,373 | $2,898 | $3,553 | $4,526 | $5,758 |
| 21158 | $2,547 | $3,132 | $3,767 | $4,942 | $6,689 |
Source: Ownwell