Point Of Rocks, Frederick County, Maryland Property Taxes
The median property tax rate in Point of Rocks, MD is 1.14%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Point of Rocks at $348,900, the typical annual property tax bill reaches $3,968, exceeding the national median of $2,690. Property taxes in Point of Rocks 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 Point of Rocks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Point of Rocks 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
Point Of Rocks, Frederick County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$3,977
$3,691
Ownwell’s Point of Rocks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Point of Rocks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Point of Rocks 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 Frederick County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Point Of Rocks, Frederick County, Maryland
Property taxes in Point of Rocks, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Point of Rocks is 1.14%, higher than the U.S. national median of 0.99%. Local government entities within Point of Rocks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Point of Rocks 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 Point of Rocks' effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 21777 has both the highest and lowest median property tax rate of 1.14%. Understanding how these cities compare with Point of Rocks 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 Point Of Rocks Tax Rate
1.14%
Average Frederick County Tax Rate
1.20%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Point Of Rocks, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21777 | 1.11% | 1.12% | 1.14% | 1.17% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Point Of Rocks, Frederick County, Maryland
In Point of Rocks, 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 Point of Rocks, 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 Point of Rocks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Point of Rocks is $348,900, with annual tax bills ranging from $3,115 at the 25th percentile to $5,736 at the 90th percentile.
Property Tax Assessment Values Across Point Of Rocks, Frederick County, Maryland
Source: Ownwell
$211,100
$375,950
$540,800
Average Point Of Rocks Assessed Value
$348,900
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 Point Of Rocks, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21777 | $238,900 | $274,300 | $348,900 | $452,725 | $515,650 |
Source: Ownwell
Property Tax Bills Across Point Of Rocks, Frederick County, Maryland
In Point of Rocks, located in Frederick County, MD, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local assessors who evaluate the market value of the property. Homeowners in this region can expect to pay property taxes that are influenced by the median home price, which is $348,900. The tax rate in Frederick County is applied to this assessed value, resulting in varying tax bills. For instance, the 25th percentile of tax bills is around $3,115, while the 75th percentile reaches up to $5,083. At the higher end, the 90th percentile of tax bills is approximately $5,736. These tax bills directly impact homeowners by contributing to their annual housing costs. Compared to the national median property tax rate of 0.99%, the tax obligations in Point of Rocks can be relatively high, reflecting the county's property values and local tax rates. Understanding these factors helps homeowners plan their finances more effectively.
Property Tax Bills Across Point Of Rocks, Frederick County, Maryland
Source: Ownwell
$2,294
$4,255
$6,216
Average Point Of Rocks Tax Bill
$3,968
Average Frederick County Tax Bill
$4,509
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Point Of Rocks, Frederick County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21777 | $2,714 | $3,115 | $3,968 | $5,083 | $5,736 |
Source: Ownwell