Worton, Maryland Property Taxes
The median property tax rate in Worton, MD is 0.99%, aligning with the national median but slightly below Maryland's state median of 1.06%. With the median home value in Worton at $218,100, the typical annual property tax bill is around $2,048, which is less than the national median of $2,690. Property taxes in Worton are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Worton'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 Worton 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
Worton, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,159
Ownwell’s Worton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Worton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Worton 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 Worton, Maryland
Property taxes in Worton, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Worton is 0.99%, which aligns with the U.S. national median of 0.99%. Local government entities within Worton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Worton 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 Worton's effective property tax rate to other areas in Maryland and the national median. For comparison, the 21678 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Worton 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 Worton Tax Rate
0.99%
Average Kent County Tax Rate
1.12%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Worton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21678 | 0.85% | 0.90% | 0.99% | 1.06% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Worton, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Worton, MD. 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 Worton, 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. For example, the zip code 21678 in Worton has the highest and lowest median tax bill, both at $2048. 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 Worton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Worton Assessed Value
$218,100
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 Worton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21678 | $119,940 | $154,225 | $218,100 | $377,200 | $618,320 |
Source: Ownwell
Property Tax Bills Across Worton, Maryland
In Worton, Kent County, MD, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county's property assessment office, which evaluates the market value of the home. For a median home price of $218,100, the property tax bill can vary significantly depending on the assessed value and the specific tax rate applied. Homeowners in Worton can expect their tax bills to range widely. For instance, the 25th percentile tax bill is approximately $1,428, while the 75th percentile reaches up to $3,771, and the 90th percentile can be as high as $6,301. This variability shows how different factors, like property improvements or neighborhood developments, can influence the assessed value and, consequently, the tax bill. Comparatively, the national median property tax rate is 0.99%, making Worton's property taxes a crucial consideration for homeowners. Understanding these factors helps residents anticipate their financial responsibilities and plan accordingly.
Average Worton Tax Bill
$2,048
Average Kent County Tax Bill
$2,628
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Worton, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21678 | $1,194 | $1,428 | $2,048 | $3,771 | $6,301 |
Source: Ownwell