Clarksburg, Maryland Property Taxes
The median property tax rate in Clarksburg, MD is 1.14%, considerably higher than both the national median of 0.99% and Maryland's state median of 1.06%. With the median home value in Clarksburg at $513,400, the typical annual property tax bill reaches $5,757, exceeding the national median of $2,690. Property taxes in Clarksburg 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 Clarksburg'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 Clarksburg 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
Clarksburg, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$5,853
$5,431
Ownwell’s Clarksburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarksburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarksburg 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 Clarksburg, Maryland
Property taxes in Clarksburg, Maryland, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarksburg is 1.14%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Clarksburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarksburg 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 Clarksburg's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20871 zip code has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these areas compare with Clarksburg 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 Clarksburg Tax Rate
1.14%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarksburg, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20871 | 1.00% | 1.09% | 1.14% | 1.16% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Clarksburg, Maryland
In Clarksburg, 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 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 Clarksburg, 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 Clarksburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Frederick County is $5757 in the zip code 20871.
Average Clarksburg Assessed Value
$513,400
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 Clarksburg, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20871 | $379,760 | $435,600 | $513,400 | $650,700 | $904,780 |
Source: Ownwell
Property Tax Bills Across Clarksburg, Maryland
In Clarksburg, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property assessor. The median home price in Clarksburg stands at $513,400. Homeowners in this area experience tax bills that vary significantly; for instance, the 25th percentile tax bill is around $4,984, while the 75th percentile tax bill reaches $6,963. The top 10% of tax bills can go as high as $9,978. These tax rates are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Clarksburg residents may find their tax bills relatively higher due to the higher property values and local tax policies. This can have a substantial impact on homeowners, affecting their annual budgeting and the overall cost of owning a home in this region.
Average Clarksburg Tax Bill
$5,757
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarksburg, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20871 | $3,995 | $4,984 | $5,757 | $6,963 | $9,978 |
Source: Ownwell