Pomfret, Charles County, Maryland Property Taxes
The median property tax rate in Pomfret, MD is 1.21%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Pomfret, the typical annual property tax bill reaches $4,531, exceeding the national median of $2,690. Property taxes in Pomfret 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 Pomfret'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 Pomfret 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
Pomfret, Charles County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$4,663
$4,327
Ownwell’s Pomfret Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pomfret with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pomfret 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 Pomfret, Charles County, Maryland
Property taxes in Pomfret, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pomfret is 1.21%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Pomfret set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pomfret 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 Pomfret's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20675 zip code has both the highest and lowest median property tax rate of 1.21%. Understanding how these cities compare with Pomfret 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 Pomfret Tax Rate
1.21%
Average Charles County Tax Rate
1.34%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pomfret, Charles County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20675 | 1.05% | 1.14% | 1.21% | 1.26% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Pomfret, Charles County, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pomfret, Maryland. 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 Charles 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 Pomfret, 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 Pomfret helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Pomfret are both $4,531, found in the 20675 zip code.
Property Tax Assessment Values Across Pomfret, Charles County, Maryland
Source: Ownwell
$219,900
$345,350
$470,800
Average Pomfret Assessed Value
$385,400
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 Pomfret, Charles County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20675 | $265,200 | $327,300 | $385,400 | $468,650 | $592,100 |
Source: Ownwell
Property Tax Bills Across Pomfret, Charles County, Maryland
In Pomfret, Charles 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 property assessor and reflects the market value of the property. The tax rate is applied to this assessed value to determine the annual property tax bill. Homeowners in Pomfret face varying tax bills depending on their property's assessed value. For example, the median home price in Pomfret is $385,400. Property tax bills can range significantly, with the 25th percentile paying around $3,940, while those in the 75th percentile see bills closer to $5,452. The highest property tax bills, found in the 90th percentile, can reach up to $6,853 annually. These tax bills can impact homeowners' finances considerably, especially when compared to the national median property tax rate of 0.99%. Understanding how these taxes are calculated helps homeowners better plan their budgets and anticipate annual expenses.
Average Pomfret Tax Bill
$4,531
Average Charles County Tax Bill
$4,464
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Pomfret, Charles County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20675 | $3,194 | $3,940 | $4,531 | $5,452 | $6,853 |
Source: Ownwell