Damascus, Frederick County, Maryland Property Taxes
The median property tax rate in Damascus, MD is 1.13%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Damascus, the typical annual property tax bill reaches $6,096, exceeding the national median of $2,690. Property taxes in Damascus 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 Damascus'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 Damascus 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
Damascus, Frederick County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$6,111
$5,671
Ownwell’s Damascus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Damascus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Damascus 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 Damascus, Frederick County, Maryland
Property taxes in Damascus, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Damascus is 1.13%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Damascus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Damascus 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 Damascus's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20872 zip code has the highest median property tax rate of 1.13%, while the same zip code has the lowest median tax rate of 1.13%. Understanding how these cities compare with Damascus 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 Damascus Tax Rate
1.13%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Damascus, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20872 | 1.12% | 1.12% | 1.13% | 1.14% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Damascus, Frederick County, Maryland
In Damascus, 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 Damascus, 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 Damascus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 20872 has the highest median tax bill at $6,096, which is above the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Damascus, Frederick County, Maryland
Source: Ownwell
$211,100
$375,950
$540,800
Average Damascus Assessed Value
$540,800
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 Damascus, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20872 | $336,000 | $403,300 | $540,800 | $643,400 | $701,600 |
Source: Ownwell
Property Tax Bills Across Damascus, Frederick County, Maryland
In Damascus, MD, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county and reflects the market value of your property. For instance, with a median home price of $540,800, homeowners in Damascus can expect varying tax bills depending on their property's assessed value and specific neighborhood. The tax bill is influenced by several factors, including the property's location, size, and any improvements made. In Damascus, the 25th percentile tax bill is $4,234, while the 75th percentile tax bill reaches $7,346. Homeowners at the 90th percentile can see tax bills as high as $7,994. This range illustrates the variability in property taxes within the area. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Damascus to understand how their local rates and assessed values affect their annual tax obligations. This understanding helps homeowners budget accordingly and plan for any potential increases in their property taxes.
Average Damascus Tax Bill
$6,096
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Damascus, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20872 | $3,763 | $4,234 | $6,096 | $7,346 | $7,994 |
Source: Ownwell