Lisbon, Maryland Property Taxes
The median property tax rate in Lisbon, MD is 0.86%, which is lower than both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $535,150 in Lisbon, the typical annual property tax bill amounts to $4,594, surpassing the national median of $2,690. Property taxes in Lisbon are determined based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Lisbon's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you're in the heart of Lisbon or another part of Howard County, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lisbon, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$4,602
Ownwell’s Lisbon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lisbon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lisbon 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 Lisbon, Maryland
Property taxes in Lisbon, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisbon is 0.86%, which is lower than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Lisbon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lisbon 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 Lisbon's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21765 zip code has both the highest and lowest median property tax rate of 0.86%. Understanding how these cities compare with Lisbon 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 Lisbon Tax Rate
0.86%
Average Howard County Tax Rate
1.04%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lisbon, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21765 | 0.74% | 0.77% | 0.86% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Lisbon, Maryland
In Lisbon, 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 Lisbon, 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. The median home price in Lisbon is $535,150, with tax bills ranging from $3,580 at the 25th percentile to $6,100 at the 90th percentile. Being aware of these valuation processes in Lisbon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lisbon Assessed Value
$535,150
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 Lisbon, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21765 | $379,350 | $468,450 | $535,150 | $635,425 | $740,410 |
Source: Ownwell
Property Tax Bills Across Lisbon, Maryland
In Lisbon, Howard County, MD, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the home's market value. For homeowners in Lisbon, the median home price is $535,150. The property tax rate in this area results in a median tax bill of $4,594, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in the 25th percentile can expect a tax bill around $3,580, while those in the 75th percentile might see bills as high as $5,945. At the 90th percentile, tax bills can reach up to $6,100. These property taxes contribute to local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Lisbon Tax Bill
$4,594
Average Howard County Tax Bill
$4,834
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Lisbon, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21765 | $3,230 | $3,580 | $4,594 | $5,945 | $6,100 |
Source: Ownwell