Massey, Maryland Property Taxes
The median property tax rate in Massey, MD is 1.14%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Massey at $180,000, the typical annual property tax bill reaches $2,009, which exceeds the national median of $2,690. Property taxes in Massey 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 Massey'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 Massey 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
Massey, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$2,052
$1,904
Ownwell’s Massey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Massey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Massey 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 Massey, Maryland
Property taxes in Massey, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Massey is 1.14%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Massey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Massey 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 Massey's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21650 zip code has the highest median property tax rate of 1.14%, while the 21650 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Massey provides valuable insights into the varying tax landscape across Kent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Massey Tax Rate
1.14%
Average Kent County Tax Rate
1.12%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Massey, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21650 | 1.05% | 1.12% | 1.14% | 1.16% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Massey, Maryland
In Massey, 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 Kent 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 Massey, 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 Massey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Massey is $180,000, with the 25th percentile tax bill at $1,399 and the 75th percentile tax bill at $2,700. The highest and lowest median tax bill in zip code 21650 is $2,009.
Average Massey Assessed Value
$180,000
Average Kent County Assessed Value
$227,650
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Massey, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21650 | $90,400 | $122,750 | $180,000 | $240,750 | $342,200 |
Source: Ownwell
Property Tax Bills Across Massey, Maryland
In Massey, located in Kent County, MD, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Massey experience a range of property tax bills, with the 25th percentile at $1,399 and the 75th percentile at $2,700. The highest median tax bill in the area is $2,009, which is on par with the lowest median tax bill, both occurring in the 21650 zip code. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. For homeowners, these tax bills can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, the property taxes in Massey reflect a localized approach to funding public services such as schools, roads, and emergency services. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Massey Tax Bill
$2,009
Average Kent County Tax Bill
$2,628
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Massey, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21650 | $1,121 | $1,399 | $2,009 | $2,700 | $3,754 |
Source: Ownwell