Waldorf, Maryland Property Taxes
The median property tax rate in Waldorf, MD is 1.32%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Waldorf, the typical annual property tax bill reaches $4,300, exceeding the national median of $2,690. Property taxes in Waldorf 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 Waldorf'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 Waldorf 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
Waldorf, 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 Waldorf Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waldorf with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waldorf to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in trends at a neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Waldorf, Maryland
Property taxes in Waldorf, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waldorf is 1.32%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Waldorf set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waldorf 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 Waldorf's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20601 zip code has the highest median property tax rate of 1.37%, while the 20603 zip code has the lowest median tax rate of 1.30%. Understanding how these areas compare with Waldorf 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 Waldorf Tax Rate
1.32%
Average Charles County Tax Rate
1.34%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waldorf, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20601 | 1.26% | 1.31% | 1.37% | 1.43% | 1.63% |
| 20602 | 1.24% | 1.28% | 1.31% | 1.35% | 1.42% |
| 20603 | 1.13% | 1.19% | 1.30% | 1.35% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Waldorf, Maryland
In Waldorf, 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 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 Waldorf, 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 Waldorf helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Waldorf, the highest median tax bill is $4,737 in the 20603 zip code, while the lowest median tax bill is $3,935 in the 20602 zip code.
Average Waldorf Assessed Value
$328,200
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 Waldorf, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20601 | $217,900 | $261,475 | $316,500 | $393,125 | $467,600 |
| 20602 | $208,300 | $254,600 | $303,000 | $350,500 | $431,780 |
| 20603 | $237,800 | $295,800 | $378,400 | $484,725 | $569,900 |
Source: Ownwell
Property Tax Bills Across Waldorf, Maryland
In Waldorf, 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 then multiplied by the local property tax rate to produce the annual tax bill. For instance, the median home price in Waldorf is $328,200. The property tax rate in Charles County can vary, but it significantly impacts homeowners. For example, the 25th percentile tax bill is approximately $3,607, while the 75th percentile tax bill reaches around $5,502. At the higher end, the 90th percentile tax bill can be as much as $6,843. Comparatively, the highest median tax bill in Waldorf's 20603 zip code is $4,737, while the lowest in the 20602 zip code is $3,935. These figures highlight the range of property tax burdens homeowners might face, depending on their specific property values and location within Waldorf. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax obligations.
Average Waldorf Tax Bill
$4,300
Average Charles County Tax Bill
$4,464
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Waldorf, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20601 | $3,020 | $3,663 | $4,306 | $5,471 | $6,936 |
| 20602 | $2,809 | $3,362 | $3,935 | $4,602 | $5,935 |
| 20603 | $3,165 | $3,842 | $4,737 | $5,984 | $7,591 |
Source: Ownwell