Monrovia, Frederick County, Maryland Property Taxes
The median property tax rate in Monrovia, MD is 1.11%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Monrovia, the typical annual property tax bill reaches $5,283, exceeding the national median of $2,690. Property taxes in Monrovia 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 Monrovia'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 Monrovia 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
Monrovia, Frederick County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$5,366
$4,979
Ownwell’s Monrovia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monrovia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monrovia 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 Monrovia, Frederick County, Maryland
Property taxes in Monrovia, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monrovia is 1.11%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Monrovia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monrovia 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 Monrovia's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21770 zip code has the highest median property tax rate of 1.11%, while the 21770 zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Monrovia 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 Monrovia Tax Rate
1.11%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monrovia, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21770 | 1.03% | 1.07% | 1.11% | 1.13% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Monrovia, Frederick County, Maryland
In Monrovia, 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 Monrovia, 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. For instance, Monrovia's median home price is $483,400, with tax bills ranging from $4,403 at the 25th percentile to $8,210 at the 90th percentile. 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 Monrovia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Monrovia, Frederick County, Maryland
Source: Ownwell
$211,100
$375,950
$540,800
Average Monrovia Assessed Value
$483,400
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 Monrovia, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21770 | $342,260 | $396,200 | $483,400 | $651,500 | $753,740 |
Source: Ownwell
Property Tax Bills Across Monrovia, Frederick County, Maryland
In Monrovia, Frederick County, MD, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the home's market value, which in Monrovia has a median home price of $483,400. Local tax rates are then applied to this assessed value to calculate the annual tax bill. Homeowners in Monrovia typically see property tax bills ranging from $4,403 at the 25th percentile to $7,117 at the 75th percentile, with the 90th percentile reaching $8,210. This variability is influenced by factors such as property location, size, and home improvements, which can all affect the assessed value. Comparatively, the national median property tax rate is 0.99%, making Monrovia's rates relatively higher. This higher tax bill can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning. For the zip code 21770, the median tax bill stands at $5,283, reflecting the area's specific property values and local tax policies.
Average Monrovia Tax Bill
$5,283
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Monrovia, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21770 | $3,804 | $4,403 | $5,283 | $7,117 | $8,210 |
Source: Ownwell