Perryville, Maryland Property Taxes
The median property tax rate in Perryville, 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 Perryville, the typical annual property tax bill reaches $2,397, which is slightly below the national median of $2,690. Property taxes in Perryville 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 Perryville'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 Perryville 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
Perryville, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$2,419
Ownwell’s Perryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perryville 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 Perryville, Maryland
Property taxes in Perryville, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perryville is 1.13%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Perryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perryville 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 Perryville's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21903 zip code has the highest median property tax rate of 1.13%, while the 21903 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Perryville 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 Perryville Tax Rate
1.13%
Average Cecil County Tax Rate
0.89%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Perryville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21903 | 0.83% | 0.95% | 1.13% | 1.22% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Perryville, Maryland
In Perryville, 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 Perryville, 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 Perryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Perryville is $2397 in the 21903 zip code, while the lowest is also $2397 in the same zip code.
Average Perryville Assessed Value
$214,050
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 Perryville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21903 | $134,400 | $164,650 | $214,050 | $281,525 | $346,070 |
Source: Ownwell
Property Tax Bills Across Perryville, Maryland
In Perryville, Cecil County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with the median home price in Perryville at $214,050, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Several factors influence the tax bill, including property location, improvements, and market conditions. In Perryville, the 25th percentile tax bill is approximately $1,719, while the 75th percentile tax bill reaches around $3,307. The 90th percentile tax bill can be as high as $4,141. Compared to the national median property tax rate of 0.99%, Perryville's tax bills reflect the specific assessments and rates applied within Cecil County. For homeowners, understanding these factors is crucial as property taxes significantly impact annual housing costs. Accurate assessment and timely appeals can help manage these expenses effectively.
Average Perryville Tax Bill
$2,397
Average Cecil County Tax Bill
$2,238
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Perryville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21903 | $1,271 | $1,719 | $2,397 | $3,307 | $4,141 |
Source: Ownwell