Secretary, Maryland Property Taxes
The median property tax rate in Secretary, MD is 1.33%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Secretary at $136,900, the typical annual property tax bill reaches $1,745, which exceeds the national median of $2,690. Property taxes in Secretary 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 Secretary'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 Secretary 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
Secretary, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$1,821
$1,690
Ownwell’s SECRETARY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SECRETARY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SECRETARY 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 Secretary, Maryland
Property taxes in SECRETARY, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in SECRETARY is 1.33%, which is higher than the U.S. national median of 0.99%. Local government entities within SECRETARY set these rates annually, and they can vary significantly across different neighborhoods. Each year, SECRETARY 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 SECRETARY's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21664 zip code has the highest median property tax rate of 1.33%, while the lowest median tax rate is also 1.33%. Understanding how these cities compare with SECRETARY 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 Secretary Tax Rate
1.33%
Average Dorchester County Tax Rate
1.17%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Secretary, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21664 | 1.22% | 1.26% | 1.33% | 1.33% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Secretary, Maryland
In SECRETARY, 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 SECRETARY, 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 SECRETARY helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in SECRETARY is $136,900. The tax bill at the 25th percentile is $1364, while at the 75th percentile, it is $2212. Notably, the highest and lowest median tax bills in the area are both $1745, found in zip code 21664.
Average Secretary Assessed Value
$136,900
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 Secretary, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21664 | $82,650 | $109,250 | $136,900 | $169,275 | $218,200 |
Source: Ownwell
Property Tax Bills Across Secretary, Maryland
Property tax bills in SECRETARY, located in Dorchester County, MD, are determined based on the assessed value of the property and the local tax rate. The assessed value is an estimate of the property's market value, which is periodically evaluated by local authorities. This assessed value is then multiplied by the property tax rate set by the local government to calculate the tax bill. In SECRETARY, the median home price is $136,900. Homeowners in the 25th percentile typically see tax bills around $1,364, while those in the 75th percentile face bills closer to $2,212. For those in the 90th percentile, tax bills can reach up to $2,938. These figures indicate that property taxes in SECRETARY are relatively moderate when compared to the national median property tax rate of 0.99%. Understanding how these factors play into the overall tax bill helps homeowners anticipate their financial responsibilities and plan accordingly, ensuring they are prepared for their annual property tax payments.
Average Secretary Tax Bill
$1,745
Average Dorchester County Tax Bill
$2,036
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Secretary, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21664 | $1,044 | $1,364 | $1,745 | $2,212 | $2,938 |
Source: Ownwell