Anderson, Maryland Property Taxes
The median property tax rate in Anderson, MD is 1.09%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Anderson at $205,900, the typical annual property tax bill reaches $2,247, which is below the national median of $2,690. Property taxes in Anderson 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 Anderson'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 Anderson 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
Anderson, 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 Anderson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Anderson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Anderson 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 Anderson, Maryland
Property taxes in Anderson, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Anderson is 1.09%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Anderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Anderson 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 Anderson's effective property tax rate to other counties in Maryland and the national median. For comparison, the 46013 zip code has the highest median property tax rate of 1.09%, while the 46013 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Anderson provides valuable insights into the varying tax landscape across Dorchester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Anderson Tax Rate
1.09%
Average Dorchester County Tax Rate
1.17%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Anderson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46013 | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Anderson, Maryland
In Anderson, 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 Dorchester 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 Anderson, 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 Anderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $2,247, found in zip code 46013.
Average Anderson Assessed Value
$205,900
Average Dorchester County Assessed Value
$163,800
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Anderson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46013 | $205,900 | $205,900 | $205,900 | $205,900 | $205,900 |
Source: Ownwell
Property Tax Bills Across Anderson, Maryland
In Anderson, Dorchester County, MD, property tax bills are calculated based on the assessed value of a home. The median home price in Anderson is $205,900, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the home's market value, location, and any applicable exemptions or deductions are considered when calculating the tax bill. For homeowners in Anderson, the property tax bill can have a significant impact. The median property tax bill in the city is $2,247, which is higher than the national median property tax rate of 0.99%. This means that homeowners in Anderson may pay more in property taxes compared to the national average, potentially affecting their overall housing costs and financial planning. Understanding how these taxes are calculated and what factors influence them can help homeowners better prepare and manage their expenses.
Average Anderson Tax Bill
$2,247
Average Dorchester County Tax Bill
$2,036
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Anderson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46013 | $2,247 | $2,247 | $2,247 | $2,247 | $2,247 |
Source: Ownwell