Westernport, Garrett County, Maryland Property Taxes
The median property tax rate in Westernport, MD is 1.19%, noticeably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $98,200 in Westernport, the typical annual property tax bill amounts to $1,172, surpassing the national median of $2,690. Property taxes in Westernport are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Westernport'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 Westernport or another part of Garrett County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westernport, Garrett County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$1,169
$1,084
Ownwell’s Westernport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westernport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westernport 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 Westernport, Garrett County, Maryland
Property taxes in Westernport, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westernport is 1.19%, higher than the U.S. national median of 0.99%. Local government entities within Westernport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westernport 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 Westernport's effective property tax rate to other areas in Garrett County and the national median. For comparison, the zip code 21562 has the highest median property tax rate of 1.19%, while the lowest median tax rate is also 1.19% in the same zip code. Understanding how these rates compare with Westernport provides valuable insights into the varying tax landscape across Garrett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Westernport Tax Rate
1.19%
Average Garrett County Tax Rate
1.17%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westernport, Garrett County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21562 | 1.03% | 1.16% | 1.19% | 1.20% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Westernport, Garrett County, Maryland
In Westernport, 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 Garrett County officials 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 Westernport, 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 Westernport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Westernport are both recorded at $1,172 in the 21562 zip code.
Property Tax Assessment Values Across Westernport, Garrett County, Maryland
Source: Ownwell
$40,850
$199,375
$357,900
Average Westernport Assessed Value
$98,200
Average Garrett County Assessed Value
$165,700
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Westernport, Garrett County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21562 | $40,340 | $87,800 | $98,200 | $129,600 | $182,120 |
Source: Ownwell
Property Tax Bills Across Westernport, Garrett County, Maryland
In Westernport, located in Garrett County, MD, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Homeowners in Westernport experience property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is $1,086, while at the 75th percentile, it rises to $1,536, and at the 90th percentile, it can reach $2,057. These tax bills are influenced by several factors, including the assessed value of the property and any local tax rates or exemptions that may apply. The median home price in Westernport is $98,200, which can help homeowners estimate their potential tax burden. Compared to the national median property tax rate of 0.99%, Westernport's property tax bills reflect the unique economic and real estate conditions of the region. For homeowners, understanding these factors is crucial for financial planning and managing annual expenses.
Average Westernport Tax Bill
$1,172
Average Garrett County Tax Bill
$1,945
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Westernport, Garrett County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21562 | $365 | $1,086 | $1,172 | $1,536 | $2,057 |
Source: Ownwell