Middletown, Maryland Property Taxes
The median property tax rate in Middletown, MD is 1.22%, considerably higher than both the national median of 0.99% and Maryland's state median of 1.06%. With the median home value in Middletown at $354,450, the typical annual property tax bill reaches $4,431, exceeding the national median of $2,690. Property taxes in Middletown 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 Middletown'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 Middletown 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
Middletown, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$4,324
$4,013
Ownwell’s Middletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middletown 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 Middletown, Maryland
Property taxes in Middletown, Maryland, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Middletown is 1.22%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Middletown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middletown 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 Middletown's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21769 zip code has both the highest and lowest median property tax rate of 1.22%. Understanding how these cities compare with Middletown 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 Middletown Tax Rate
1.22%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middletown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21769 | 1.18% | 1.20% | 1.22% | 1.42% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Middletown, Maryland
In Middletown, 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 Middletown, 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 Middletown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $4431 in zip code 21769, while the lowest median tax bill is also $4431 in the same zip code.
Average Middletown Assessed Value
$354,450
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 Middletown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21769 | $233,900 | $282,525 | $354,450 | $453,700 | $558,700 |
Source: Ownwell
Property Tax Bills Across Middletown, Maryland
In Middletown, located in Frederick County, MD, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor, who evaluates the market value of the property. Homeowners in Middletown can expect their property tax bills to vary significantly, with the 25th percentile at $3,446 and the 75th percentile reaching $5,943. The 90th percentile tax bill can go up to $7,358. These figures indicate that property taxes in Middletown can be quite substantial, especially when compared to the national median property tax rate of 0.99%. For a median home price of $354,450, the property tax bill can be a significant annual expense. Factors influencing these tax bills include property improvements, changes in the local real estate market, and legislative adjustments to tax rates. High property taxes can impact homeowners by increasing their annual financial obligations, potentially affecting their ability to afford other expenses or investments. Conversely, these taxes contribute to essential local services and infrastructure, which can enhance property values over time.
Average Middletown Tax Bill
$4,431
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Middletown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21769 | $2,856 | $3,446 | $4,431 | $5,943 | $7,358 |
Source: Ownwell