Highland, Maryland Property Taxes
The median property tax rate in Highland, MD is 0.93%, slightly below the state median of 1.06% but still close to the national median of 0.99%. With a median home value of $752,600, the typical annual property tax bill in Highland reaches $7,133, significantly exceeding the national median of $2,690. Property taxes in Highland are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Navigating Highland'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 Highland 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
Highland, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$6,999
$6,495
Ownwell’s Highland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Highland with just two data points. By entering your property’s estimated assessed value, the calculator applies the median tax rate in Highland 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 Highland, Maryland
Property taxes in Highland, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Highland is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Highland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Highland 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 Highland's effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 20777 has both the highest and lowest median property tax rate of 0.93% within the county. Understanding how these areas compare with Highland 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 Highland Tax Rate
0.93%
Average Howard County Tax Rate
1.04%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Highland, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20777 | 0.89% | 0.91% | 0.93% | 0.97% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Highland, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Highland, Maryland. The market value represents 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 Highland, 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 Highland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Highland, the median home price is $752,600, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $5,670, while the 75th percentile is $9,346. The highest median tax bill in the area is $7,133, and interestingly, the lowest median tax bill is also $7,133, both in the 20777 zip code. This comparison with the national median property tax rate of 0.99% highlights the importance of understanding local property tax dynamics.
Average Highland Assessed Value
$752,600
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 Highland, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20777 | $511,780 | $595,750 | $752,600 | $1,003,150 | $1,358,140 |
Source: Ownwell
Property Tax Bills Across Highland, Maryland
In Highland, Howard County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Highland, the median home price is $752,600. Property tax bills can vary significantly across different percentiles. For instance, the tax bill at the 25th percentile is $5,670, while at the 75th percentile, it rises to $9,346. Homeowners at the 90th percentile can expect to pay around $12,245 annually. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. In Highland, the highest and lowest median tax bills are both $7,133, specifically in the zip code 20777. These property taxes play a crucial role in funding local services, including schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners.
Average Highland Tax Bill
$7,133
Average Howard County Tax Bill
$4,834
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Highland, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20777 | $4,819 | $5,670 | $7,133 | $9,346 | $12,245 |
Source: Ownwell