Dayton, Maryland Property Taxes
The median property tax rate in Dayton, MD is 0.90%, slightly below both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Dayton at $795,200, the typical annual property tax bill reaches $6,733, significantly exceeding the national median of $2,690. Property taxes in Dayton 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 Dayton'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 Dayton 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
Dayton, Maryland Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,120
Ownwell’s Dayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dayton 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 Dayton, Maryland
Property taxes in Dayton, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dayton is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Dayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dayton 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 Dayton's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21036 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Dayton 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 Dayton Tax Rate
0.90%
Average Howard County Tax Rate
1.04%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dayton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21036 | 0.73% | 0.80% | 0.90% | 0.95% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Dayton, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dayton, Maryland. 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. 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 Dayton is $795,200, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $5,513, while the 75th percentile tax bill is $8,627. The highest and lowest median tax bills are both $6,733, found in the 21036 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage their tax burden effectively.
Average Dayton Assessed Value
$795,200
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 Dayton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21036 | $494,710 | $605,825 | $795,200 | $1,086,675 | $1,285,690 |
Source: Ownwell
Property Tax Bills Across Dayton, Maryland
In Dayton, Howard County, MD, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. This value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $795,200, homeowners can expect varying tax bills depending on their property’s valuation and specific circumstances. The tax bill can range significantly, with the 25th percentile at $5,513 and the 75th percentile at $8,627, indicating a broad spectrum of tax liabilities. At the 90th percentile, homeowners might see bills as high as $10,502. These figures highlight the importance of accurate property assessments and the impact of local tax rates. Compared to the national median property tax rate of 0.99%, homeowners in Dayton may experience higher tax burdens, reflecting the high property values in the area. Understanding these calculations helps homeowners manage their finances and anticipate annual expenses.
Average Dayton Tax Bill
$6,733
Average Howard County Tax Bill
$4,834
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Dayton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21036 | $4,689 | $5,513 | $6,733 | $8,627 | $10,502 |
Source: Ownwell