La Plata, Maryland Property Taxes
The median property tax rate in LA PLATA, MD is 1.48%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in LA PLATA, the typical annual property tax bill reaches $4,934, exceeding the national median of $2,690. Property taxes in LA PLATA 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 LA PLATA'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 LA PLATA 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
La Plata, 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 LA PLATA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA PLATA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA PLATA 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 La Plata, Maryland
Property taxes in LA PLATA, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA PLATA is 1.48%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within LA PLATA set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA PLATA 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 LA PLATA's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20646 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with LA PLATA provides valuable insights into the varying tax landscape across Charles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Plata Tax Rate
1.48%
Average Charles County Tax Rate
1.34%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Plata, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20646 | 1.21% | 1.40% | 1.48% | 1.51% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across La Plata, Maryland
In LA PLATA, 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 local assessment office 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 LA PLATA, 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 LA PLATA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in LA PLATA are both $4934, found in the 20646 zip code.
Average La Plata Assessed Value
$336,200
Average Charles County Assessed Value
$334,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Plata, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20646 | $179,380 | $263,700 | $336,200 | $416,400 | $511,120 |
Source: Ownwell
Property Tax Bills Across La Plata, Maryland
In La Plata, located in Charles County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. Homeowners in La Plata face a median property tax bill of $4,934, which is significantly higher than the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's location within specific zip codes, with the highest and lowest median tax bills both being $4,934 in the 20646 zip code. The range of property tax bills varies widely, with the 25th percentile at $3,766 and the 75th percentile at $6,238, while the 90th percentile reaches $7,510. High property tax bills can have a substantial impact on homeowners, affecting their overall housing costs and financial planning. Understanding these factors is crucial for homeowners in La Plata to manage their finances effectively and anticipate their annual property tax obligations.
Average La Plata Tax Bill
$4,934
Average Charles County Tax Bill
$4,464
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across La Plata, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20646 | $2,728 | $3,766 | $4,934 | $6,238 | $7,510 |
Source: Ownwell