Annapolis Junction, Maryland Property Taxes
The median property tax rate in Annapolis Junction, MD is 0.95%, slightly below the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $289,100 in Annapolis Junction, the typical annual property tax bill is $2,753, which is just under the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Familiarizing yourself with Annapolis Junction's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Annapolis Junction or another area within Howard County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Annapolis Junction, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$2,746
$2,549
Ownwell’s Annapolis Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Annapolis Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Annapolis Junction 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 Annapolis Junction, Maryland
Property taxes in Annapolis Junction, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Annapolis Junction is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Annapolis Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Annapolis Junction 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 Annapolis Junction's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20701 zip code has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these cities compare with Annapolis Junction provides valuable insights into the varying tax landscape across Howard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Annapolis Junction Tax Rate
0.95%
Average Howard County Tax Rate
1.04%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Annapolis Junction, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20701 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Annapolis Junction, Maryland
In Annapolis Junction, 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 Howard 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 Annapolis Junction, 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. The median home price in this area is $289,100, with the median tax bill being $2,753. 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 Annapolis Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Annapolis Junction, Maryland
Source: Ownwell
$289,100
$601,450
$913,800
Average Annapolis Junction Assessed Value
$289,100
Average Howard County Assessed Value
$465,650
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Annapolis Junction, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20701 | $289,100 | $289,100 | $289,100 | $289,100 | $289,100 |
Source: Ownwell
Property Tax Bills Across Annapolis Junction, Maryland
In Annapolis Junction, located in Howard County, MD, property tax bills are calculated based on the assessed value of the property. The assessment is conducted by local authorities to determine the property's taxable value, which is then multiplied by the local tax rate. Howard County's property tax rate is applied uniformly across the region, ensuring consistency in tax bills. Several factors influence the assessed value, including the property's market value, location, and any improvements or renovations made. For homeowners, this means that fluctuations in the real estate market or significant property upgrades can impact their tax obligations. The median home price in Annapolis Junction is $289,100, with property tax bills typically around $2,753. This is higher than the national median property tax rate of 0.99%, underscoring the importance of understanding local tax dynamics. Homeowners should be aware of these factors to better anticipate their annual property tax expenses and budget accordingly.
Average Annapolis Junction Tax Bill
$2,753
Average Howard County Tax Bill
$4,834
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Annapolis Junction, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20701 | $2,753 | $2,753 | $2,753 | $2,753 | $2,753 |
Source: Ownwell