Millington, Maryland Property Taxes
The median property tax rate in Millington, MD is 1.15%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Millington, the typical annual property tax bill reaches $1,977, which is below the national median of $2,690. Property taxes in Millington 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 Millington'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 Millington or another part of Kent County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Millington, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,902
$1,765
Ownwell’s Millington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millington 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 Millington, Maryland
Property taxes in Millington, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millington is 1.15%, which is higher than the U.S. national median of 0.99%. Local government entities within Millington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millington 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 Millington's effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 21651 has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these areas compare with Millington 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 Millington Tax Rate
1.15%
Average Kent County Tax Rate
1.12%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millington, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21651 | 1.07% | 1.11% | 1.15% | 1.39% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Millington, Maryland
In Millington, 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 Millington, 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 Millington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Millington is $1,977 in the 21651 zip code, which is also the lowest median tax bill in the area.
Average Millington Assessed Value
$165,400
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 Millington, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21651 | $97,430 | $123,825 | $165,400 | $228,950 | $301,460 |
Source: Ownwell
Property Tax Bills Across Millington, Maryland
In Millington, Kent County, MD, property tax bills are calculated based on the assessed value of a home. The median home price in the area is $165,400. Property taxes are determined by multiplying the assessed value by the local tax rate, which in this region results in a median tax bill of $1,977. Factors such as the property's location, size, and condition can influence its assessed value, thereby affecting the final tax bill. Homeowners in Millington can expect their tax bills to vary, with the 25th percentile at $1,521 and the 75th percentile at $2,811. At the higher end, the 90th percentile reaches $3,658. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Millington to understand how their local rates and property values impact their overall tax obligations. This understanding helps homeowners budget more effectively and anticipate annual property tax expenses.
Average Millington Tax Bill
$1,977
Average Kent County Tax Bill
$2,628
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Millington, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21651 | $1,093 | $1,521 | $1,977 | $2,811 | $3,658 |
Source: Ownwell