Seaford, Maryland Property Taxes
The median property tax rate in Seaford, MD is 1.12%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Seaford, the typical annual property tax bill reaches $2,049, exceeding the national median of $2,690. Property taxes in Seaford 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 Seaford'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 Seaford 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
Seaford, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,940
$1,800
Ownwell’s Seaford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seaford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seaford 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 Seaford, Maryland
Property taxes in Seaford, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seaford is 1.12%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Seaford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seaford 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 Seaford's effective property tax rate to other counties in Maryland and the national median. For comparison, the 19973 zip code has the highest median property tax rate of 1.12%, while the same 19973 zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Seaford 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 Seaford Tax Rate
1.12%
Average Dorchester County Tax Rate
1.17%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seaford, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19973 | 1.07% | 1.10% | 1.12% | 1.18% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Seaford, Maryland
In Seaford, 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 Seaford, 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 Seaford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Seaford is $173,200, with the highest and lowest median tax bills both recorded at $2,049 in the zip code 19973.
Average Seaford Assessed Value
$173,200
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 Seaford, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19973 | $82,480 | $113,750 | $173,200 | $246,300 | $336,900 |
Source: Ownwell
Property Tax Bills Across Seaford, Maryland
In Seaford, located in Dorchester County, MD, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county's property assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition, as well as recent sales of comparable properties in the area. Homeowners in Seaford can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is around $1,355, while the 75th percentile tax bill is approximately $2,952. At the higher end, the 90th percentile tax bill reaches about $3,703. These property taxes can significantly impact homeowners, influencing their monthly mortgage payments and overall housing affordability. Comparing to the national median property tax rate of 0.99%, Seaford's tax rates and assessed values can either ease or burden homeowners, depending on their specific circumstances.
Average Seaford Tax Bill
$2,049
Average Dorchester County Tax Bill
$2,036
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Seaford, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19973 | $1,014 | $1,355 | $2,049 | $2,952 | $3,703 |
Source: Ownwell