Cascade, Maryland Property Taxes
The median property tax rate in Cascade, MD is 1.22%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Cascade at $239,450, the typical annual property tax bill reaches $2,907, exceeding the national median of $2,690. Property taxes in Cascade 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 Cascade'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 Cascade 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
Cascade, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$2,921
$2,711
Ownwell’s Cascade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cascade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cascade 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 Cascade, Maryland
Property taxes in Cascade, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cascade is 1.22%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Cascade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cascade 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 Cascade's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21719 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these areas compare with Cascade provides valuable insights into the varying tax landscape across Frederick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cascade Tax Rate
1.22%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cascade, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21719 | 1.08% | 1.20% | 1.22% | 1.25% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Cascade, Maryland
In Cascade, 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 Frederick County Assessment Office 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 Cascade, 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. For instance, the highest median tax bill in Cascade is $2,907 in zip code 21719, while the lowest median tax bill is also $2,907 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cascade Assessed Value
$239,450
Average Frederick County Assessed Value
$362,500
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cascade, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21719 | $117,610 | $189,250 | $239,450 | $302,300 | $449,530 |
Source: Ownwell
Property Tax Bills Across Cascade, Maryland
In Cascade, located in Frederick 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 assessor and reflects the market value of the property. Homeowners in Cascade can expect a median property tax bill of approximately $2,907, which is significantly higher than the national median property tax rate of 0.99%. Factors that influence the tax bill include the property's location, size, and any improvements made to it. For instance, the 25th percentile tax bill is around $2,191, while the 75th percentile reaches up to $3,691, and the 90th percentile can be as high as $5,416. These variations demonstrate how different property characteristics can impact the overall tax burden. For homeowners, understanding these factors is crucial as they directly affect annual financial obligations. Higher property taxes can influence decisions on home improvements, purchases, and long-term investments in the community.
Average Cascade Tax Bill
$2,907
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Cascade, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21719 | $1,437 | $2,191 | $2,907 | $3,691 | $5,416 |
Source: Ownwell