Frederick, Maryland Property Taxes
The median property tax rate in Frederick, 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 Frederick, the typical annual property tax bill reaches $4,633, exceeding the national median of $2,690. Property taxes in Frederick 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 Frederick'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 Frederick 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
Frederick, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$4,663
$4,327
Ownwell’s Frederick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frederick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frederick 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 Frederick, Maryland
Property taxes in Frederick, MD, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Frederick is 1.33%, which is higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Frederick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frederick 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 Frederick's effective property tax rate to other areas in Maryland and the national median. For comparison, the 21701 zip code has the highest median property tax rate of 1.43%, while the 21703 zip code has the lowest median tax rate of 1.19%. Understanding how these areas compare with Frederick 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 Frederick Tax Rate
1.33%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frederick, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21701 | 1.01% | 1.12% | 1.43% | 1.54% | 1.60% |
| 21702 | 1.18% | 1.22% | 1.43% | 1.52% | 1.57% |
| 21703 | 0.99% | 1.04% | 1.19% | 1.34% | 1.52% |
| 21704 | 1.08% | 1.13% | 1.32% | 1.38% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Frederick, Maryland
In Frederick, 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 county's 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 Frederick, 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 Frederick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $6,216 in zip code 21704, while the lowest is $3,740 in zip code 21703.
Average Frederick Assessed Value
$350,600
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 Frederick, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21701 | $225,000 | $286,400 | $350,200 | $463,650 | $590,620 |
| 21702 | $205,000 | $260,000 | $339,700 | $437,550 | $560,200 |
| 21703 | $217,100 | $252,400 | $307,300 | $387,325 | $490,500 |
| 21704 | $328,260 | $402,300 | $479,700 | $635,900 | $749,300 |
Source: Ownwell
Property Tax Bills Across Frederick, Maryland
In Frederick, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate to determine the annual tax bill. Homeowners in Frederick can expect a tax bill that varies significantly depending on their property's assessed value and location within the county. For instance, the median home price in Frederick is $350,600, and the tax bills range widely, with the 25th percentile at $3,442 and the 75th percentile at $6,163. The highest median tax bill is found in the 21704 zip code, amounting to $6,216, while the lowest median tax bill is in the 21703 zip code at $3,740. These variations can significantly impact homeowners' finances, making it crucial for them to understand their property's assessed value and the applicable tax rate. Compared to the national median property tax rate of 0.99%, Frederick's rates can be considerably higher, affecting overall affordability and budgeting for residents.
Average Frederick Tax Bill
$4,633
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Frederick, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21701 | $2,787 | $3,585 | $4,853 | $6,341 | $8,366 |
| 21702 | $2,734 | $3,500 | $4,669 | $6,180 | $7,956 |
| 21703 | $2,512 | $2,947 | $3,740 | $4,719 | $5,873 |
| 21704 | $3,967 | $5,104 | $6,216 | $8,179 | $9,751 |
Source: Ownwell