Bethesda, Maryland Property Taxes
The median property tax rate in Bethesda, MD is 1.09%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Bethesda, the typical annual property tax bill reaches $10,057, exceeding the national median of $2,690. Property taxes in Bethesda 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 Bethesda'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 Bethesda 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
Bethesda, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$10,063
Ownwell’s Bethesda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bethesda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethesda 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 Bethesda, Maryland
Property taxes in Bethesda, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethesda is 1.09%, higher than the U.S. national median of 0.99%. Local government entities within Bethesda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethesda 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 Bethesda's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the 20817 zip code has the highest median property tax rate of 1.11%, while the 20816 zip code has the lowest median tax rate of 1.01%. Understanding how these areas compare with Bethesda 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 Bethesda Tax Rate
1.09%
Average Montgomery County Tax Rate
1.11%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethesda, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20814 | 0.77% | 1.00% | 1.11% | 1.16% | 1.24% |
| 20816 | 0.85% | 0.94% | 1.01% | 1.07% | 1.13% |
| 20817 | 0.90% | 1.03% | 1.11% | 1.15% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Bethesda, Maryland
In Bethesda, 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. 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 Bethesda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $11,152 in the 20816 zip code, while the lowest is $8,466 in the 20814 zip code.
Average Bethesda Assessed Value
$923,250
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 Bethesda, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20814 | $215,000 | $310,000 | $764,950 | $1,104,775 | $1,552,590 |
| 20816 | $460,000 | $881,350 | $1,113,450 | $1,415,575 | $1,789,420 |
| 20817 | $405,000 | $780,700 | $946,700 | $1,343,125 | $1,752,780 |
Source: Ownwell
Property Tax Bills Across Bethesda, Maryland
In Bethesda, property tax bills are calculated based on the assessed value of your home, which is determined by the local government. This assessed value is then multiplied by the local property tax rate. Factors such as the home's size, location, and condition, as well as recent sales of similar properties in the area, play a significant role in determining the assessed value. Homeowners in Bethesda can expect a range of property tax bills. For instance, the tax bill at the 25th percentile is around $7,143, while those at the 75th percentile reach approximately $13,703. The 90th percentile tax bill can climb to $18,501. Notably, the highest median tax bill in Bethesda is $11,152 in zip code 20816, whereas the lowest is $8,466 in zip code 20814. With the national median property tax rate at 0.99%, Bethesda's property taxes can significantly impact homeowners, especially with a median home price of $923,250. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Bethesda Tax Bill
$10,057
Average Montgomery County Tax Bill
$5,416
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethesda, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20814 | $1,849 | $3,252 | $8,466 | $11,944 | $17,247 |
| 20816 | $4,416 | $8,928 | $11,152 | $14,014 | $17,800 |
| 20817 | $4,496 | $8,638 | $10,459 | $14,506 | $19,409 |
Source: Ownwell