Libertytown, Frederick County, Maryland Property Taxes
The median property tax rate in Libertytown, MD is 1.04%, slightly higher than the national median of 0.99% but lower than Maryland's state median of 1.06%. With the median home value in Libertytown at $235,400, the typical annual property tax bill is around $2,294, which is below the national median of $2,690. Property taxes in Libertytown are based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Libertytown'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 Libertytown or another part of Frederick County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Libertytown, Frederick County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,448
$2,272
Ownwell’s Libertytown Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a convenient way to estimate their annual property taxes in Libertytown using just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Libertytown to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities and plan accordingly. For those interested in more detailed insights, including neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by Frederick County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Libertytown, Frederick County, Maryland
Property taxes in Libertytown, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Libertytown is 1.04%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Libertytown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Libertytown 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 Libertytown's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21762 zip code has the highest median property tax rate of 1.04%, while the 21762 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Libertytown 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 Libertytown Tax Rate
1.04%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Libertytown, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21762 | 0.94% | 0.99% | 1.04% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Libertytown, Frederick County, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Libertytown, Maryland. 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 Libertytown, 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 Libertytown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Libertytown are both $2,294, found in the 21762 zip code.
Property Tax Assessment Values Across Libertytown, Frederick County, Maryland
Source: Ownwell
$211,100
$375,950
$540,800
Average Libertytown Assessed Value
$235,400
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 Libertytown, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21762 | $145,000 | $145,000 | $235,400 | $311,500 | $377,080 |
Source: Ownwell
Property Tax Bills Across Libertytown, Frederick County, Maryland
In Libertytown, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, reflecting the home's worth in the current real estate market. Once the assessed value is established, it is multiplied by the local property tax rate to determine the tax bill. For instance, in Frederick County, where Libertytown is located, the median home price is $235,400. Homeowners here can expect tax bills that vary significantly. The 25th percentile tax bill is about $1,553, while the 75th percentile reaches $3,198, and the 90th percentile can go up to $3,869. This range highlights how property taxes can impact homeowners differently based on their property's assessed value. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens. Homeowners in Libertytown need to consider these factors when budgeting for annual expenses, as property taxes represent a significant financial commitment.
Average Libertytown Tax Bill
$2,294
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Libertytown, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21762 | $1,553 | $1,553 | $2,294 | $3,198 | $3,869 |
Source: Ownwell