North East, Maryland Property Taxes
The median property tax rate in North East, MD is 0.89%, which is lower than both the national median of 0.99% and Maryland's state median of 1.06%. With a median home value of $235,500, the typical annual property tax bill in North East comes to $2,224, falling short of the national median of $2,690. Property taxes in North East are calculated based on the tax assessed value, which often is lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding North East'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 North East 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
North East, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$2,096
$1,945
Ownwell’s North East Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North East with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North East 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 North East, Maryland
Property taxes in North East, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North East is 0.89%, slightly below the U.S. national median of 0.99%. Local government entities within North East set these rates annually, and they can vary significantly across different neighborhoods. Each year, North East 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 North East's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21901 zip code has both the highest and lowest median property tax rate of 0.89%. Understanding how these cities compare with North East provides valuable insights into the varying tax landscape across Cecil County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North East Tax Rate
0.89%
Average Cecil County Tax Rate
0.89%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across North East, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21901 | 0.70% | 0.79% | 0.89% | 1.13% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across North East, Maryland
In North East, 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 Cecil 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 North East, 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. For example, the median home price in North East is $235,500, with the 25th percentile tax bill at $1,597 and the 75th percentile tax bill at $3,108. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average North East Assessed Value
$235,500
Average Cecil County Assessed Value
$239,900
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North East, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21901 | $114,690 | $168,825 | $235,500 | $321,125 | $417,830 |
Source: Ownwell
Property Tax Bills Across North East, Maryland
In North East, Cecil County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $235,500, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors such as property location, size, and improvements can influence the assessed value. Homeowners in North East typically see tax bills ranging from $1,597 at the 25th percentile to $4,203 at the 90th percentile. The median tax bill in the area stands at $2,224, which is higher than the national median property tax rate of 0.99%. These property taxes contribute significantly to local services, such as schools and infrastructure, but can also be a substantial annual expense for homeowners, impacting their overall financial planning and home affordability.
Average North East Tax Bill
$2,224
Average Cecil County Tax Bill
$2,238
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across North East, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21901 | $1,006 | $1,597 | $2,224 | $3,108 | $4,203 |
Source: Ownwell