Street, Harford County, Maryland Property Taxes
The median property tax rate in STREET, MD is 1.04%, slightly higher than both the national median of 0.99% and Maryland's state median of 1.06%. With the median home value in STREET, the typical annual property tax bill reaches $3,165, surpassing the national median of $2,690. Property taxes in STREET 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 STREET'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 STREET 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
Street, Harford County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$3,395
$3,150
Ownwell’s Street Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Street with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Street 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 Street, Harford County, Maryland
Property taxes in STREET, Maryland, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in STREET is 1.04%, higher than both the Maryland state median of 0.72% and the U.S. national median of 0.99%. Local government entities within STREET set these rates annually, and they can vary significantly across different neighborhoods. Each year, STREET 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 STREET's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21154 zip code has the highest median property tax rate of 1.04%, while the 21154 zip code also has the lowest median tax rate of 1.04%. Understanding how these areas compare with STREET provides valuable insights into the varying tax landscape across Harford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Street Tax Rate
1.04%
Average Harford County Tax Rate
0.99%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Street, Harford County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21154 | 0.70% | 1.00% | 1.04% | 1.05% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Street, Harford County, Maryland
In Street, 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 Harford 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 Street, 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 Street helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $3,165 in the 21154 zip code. Understanding these aspects can make a significant difference in managing your property tax expenses efficiently.
Property Tax Assessment Values Across Street, Harford County, Maryland
Source: Ownwell
$164,500
$289,000
$413,500
Average Street Assessed Value
$326,400
Average Harford County Assessed Value
$279,650
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Street, Harford County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21154 | $176,420 | $241,000 | $326,400 | $446,200 | $569,660 |
Source: Ownwell
Property Tax Bills Across Street, Harford County, Maryland
Property tax bills in STREET, Harford County, MD, are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value and is used to compute the tax bill. Various factors, such as the property's location, size, and condition, influence the assessed value. In Harford County, the median home price stands at $326,400, with property tax bills ranging from $2,213 at the 25th percentile to $5,557 at the 90th percentile. Compared to the national median property tax rate of 0.99%, homeowners in Harford County may find their tax rates either above or below this average, depending on their specific property's assessed value and applicable exemptions. For instance, the highest median tax bill in the county is $3,165, observed in the 21154 zip code. These taxes significantly impact homeowners by influencing their monthly mortgage payments and overall housing affordability. Understanding these factors can help homeowners better anticipate and manage their annual property tax obligations.
Average Street Tax Bill
$3,165
Average Harford County Tax Bill
$2,716
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Street, Harford County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21154 | $1,342 | $2,213 | $3,165 | $4,359 | $5,557 |
Source: Ownwell