Rising Sun, Maryland Property Taxes
The median property tax rate in Rising Sun, MD is 0.81%, which is notably lower than both the national median of 0.99% and Maryland's state median of 1.06%. With the median home value in Rising Sun at $264,500, the typical annual property tax bill amounts to $2,333, falling below the national median of $2,690. Property taxes in Rising Sun are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Rising Sun'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 Rising Sun or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rising Sun, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$2,142
$1,988
Ownwell’s Rising Sun Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rising Sun with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rising Sun 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 Rising Sun, Maryland
Property taxes in Rising Sun, Maryland, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rising Sun is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Rising Sun set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rising Sun 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 Rising Sun's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 21911 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Rising Sun 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 Rising Sun Tax Rate
0.81%
Average Cecil County Tax Rate
0.89%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rising Sun, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21911 | 0.64% | 0.72% | 0.81% | 1.03% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Rising Sun, Maryland
In Rising Sun, 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 Rising Sun, 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. For example, the median home price in Rising Sun is $264,500, with tax bills ranging from $1,683 at the 25th percentile to $3,981 at the 90th percentile. The highest and lowest median tax bills both stand at $2,333 in the 21911 zip code. 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 Rising Sun Assessed Value
$264,500
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 Rising Sun, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21911 | $173,600 | $214,800 | $264,500 | $330,300 | $437,900 |
Source: Ownwell
Property Tax Bills Across Rising Sun, Maryland
In Rising Sun, located in Cecil County, MD, property tax bills are calculated based on the property's assessed value. The assessed value is determined by the local tax assessor and reflects the market value of the home. For instance, with a median home price of $264,500, homeowners can expect their tax bill to vary significantly. Factors influencing the tax bill include the assessment ratio, local tax rates, and any applicable exemptions or deductions. The tax rate in Rising Sun is compared to the national median property tax rate of 0.99%. Homeowners in this area experience a range of tax bills, from the 25th percentile at $1,683 to the 75th percentile at $3,151, with the 90th percentile reaching up to $3,981. These tax bills directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these elements interplay helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Rising Sun Tax Bill
$2,333
Average Cecil County Tax Bill
$2,238
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Rising Sun, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21911 | $1,272 | $1,683 | $2,333 | $3,151 | $3,981 |
Source: Ownwell