Beltsville, Maryland Property Taxes
The median property tax rate in Beltsville, MD is 1.07%, slightly higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Beltsville at $110,000, the typical annual property tax bill reaches $1,180, which is below the national median of $2,690. Property taxes in Beltsville are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Beltsville'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 Beltsville or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beltsville, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,177
$1,092
Ownwell’s Beltsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beltsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beltsville 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 Beltsville, Maryland
Property taxes in Beltsville, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beltsville is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Beltsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beltsville 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 Beltsville's effective property tax rate to other areas and the national median. For comparison, the zip code 20705 has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these figures compare with Beltsville provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beltsville Tax Rate
1.07%
Average Montgomery County Tax Rate
1.11%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beltsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20705 | 0.44% | 0.89% | 1.07% | 1.07% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Beltsville, Maryland
In Beltsville, 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 Montgomery 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 Beltsville, 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 Beltsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 20705, with a median tax bill of $1,180.
Average Beltsville Assessed Value
$110,000
Average Montgomery County Assessed Value
$471,000
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beltsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20705 | $90,000 | $110,000 | $110,000 | $110,000 | $130,000 |
Source: Ownwell
Property Tax Bills Across Beltsville, Maryland
In Beltsville, Montgomery County, MD, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the local tax assessor and is usually a percentage of the market value. Factors such as the size of the property, location, and any improvements made can influence this assessed value. Homeowners in Beltsville can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $836, while the 75th percentile tax bill is $1180. At the higher end, the 90th percentile tax bill reaches up to $1872. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how their property tax bill is calculated can help them anticipate annual expenses and budget accordingly. Comparatively, the property tax rate in Beltsville aligns closely with the national median property tax rate of 0.99%, ensuring that residents contribute fairly to the community's upkeep.
Average Beltsville Tax Bill
$1,180
Average Montgomery County Tax Bill
$5,416
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Beltsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20705 | $488 | $836 | $1,180 | $1,180 | $1,872 |
Source: Ownwell