Keymar, Frederick County, Maryland Property Taxes
The median property tax rate in Keymar, MD is 1.02%, slightly higher than the national median of 0.99% but lower than the Maryland state median of 1.06%. With the median home value in Keymar at $349,100, the typical annual property tax bill reaches $3,515, significantly exceeding the national median of $2,690. Property taxes in Keymar are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Keymar'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 Keymar 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
Keymar, Frederick County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$3,561
$3,304
Ownwell’s Keymar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keymar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keymar 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 Keymar, Frederick County, Maryland
Property taxes in Keymar, Maryland, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Keymar is 1.02%, slightly higher than the U.S. national median of 0.99%. Local government entities within Keymar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keymar 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 Keymar's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21757 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Keymar 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 Keymar Tax Rate
1.02%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keymar, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21757 | 0.88% | 0.95% | 1.02% | 1.08% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Keymar, Frederick County, Maryland
In Keymar, 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 Keymar, 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 Keymar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 21757, with a median tax bill of $3,515.
Property Tax Assessment Values Across Keymar, Frederick County, Maryland
Source: Ownwell
$211,100
$375,950
$540,800
Average Keymar Assessed Value
$349,100
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 Keymar, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21757 | $229,410 | $284,675 | $349,100 | $448,375 | $581,300 |
Source: Ownwell
Property Tax Bills Across Keymar, Frederick County, Maryland
In Keymar, Frederick County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local taxing authority. Homeowners in Keymar can expect their property tax rates to be influenced by the median home price, which currently stands at $349,100. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For residents, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $2,819, while the 75th percentile tax bill reaches $4,517. At the higher end, the 90th percentile tax bill can be as much as $5,671. The median tax bill in the area is notably higher at $3,515, compared to the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding these factors helps residents plan their finances and anticipate their annual property tax obligations.
Average Keymar Tax Bill
$3,515
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Keymar, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21757 | $2,231 | $2,819 | $3,515 | $4,517 | $5,671 |
Source: Ownwell