Dickerson, Montgomery County, Maryland Property Taxes
The median property tax rate in Dickerson, MD is 1.12%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Dickerson at $451,600, the typical annual property tax bill reaches $5,128, exceeding the national median of $2,690. Property taxes in Dickerson 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 Dickerson'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 Dickerson 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
Dickerson, Montgomery County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$5,058
$4,694
Ownwell’s Dickerson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dickerson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dickerson 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 Dickerson, Montgomery County, Maryland
Property taxes in Dickerson, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dickerson is 1.12%, which is higher than the U.S. national median of 0.99%. Local government entities within Dickerson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dickerson 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 Dickerson's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the zip code 20842 has the highest median property tax rate of 1.12%, while the zip code 20842 also has the lowest median tax rate of 1.12%. Understanding how these areas compare with Dickerson 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 Dickerson Tax Rate
1.12%
Average Montgomery County Tax Rate
1.11%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dickerson, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20842 | 0.92% | 1.08% | 1.12% | 1.25% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Dickerson, Montgomery County, Maryland
In Dickerson, 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 Dickerson, 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 Dickerson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dickerson is $451,600, with the 25th percentile tax bill at $3,722 and the 75th percentile tax bill at $8,253. Notably, the zip code 20842 has the highest and lowest median tax bill at $5,128.
Property Tax Assessment Values Across Dickerson, Montgomery County, Maryland
Source: Ownwell
$110,000
$614,100
$1,118,200
Average Dickerson Assessed Value
$451,600
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 Dickerson, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20842 | $268,730 | $332,025 | $451,600 | $738,625 | $1,003,190 |
Source: Ownwell
Property Tax Bills Across Dickerson, Montgomery County, Maryland
Property tax bills in Dickerson, Montgomery County, MD, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. For Dickerson, the median home price is $451,600. Property tax rates in this region are applied to this assessed value to determine the annual tax bill. Homeowners in Dickerson can expect property tax bills that range significantly. The 25th percentile tax bill is around $3,722, while those in the 75th percentile pay approximately $8,253. At the higher end, the 90th percentile tax bill reaches up to $11,465. The median property tax bill in Dickerson is notably higher than the national median property tax rate of 0.99%, reflecting the area's higher property values. These taxes fund essential local services, such as schools, public safety, and infrastructure, directly impacting the community. Understanding how these factors come together helps homeowners anticipate their financial obligations and the benefits they receive in return.
Average Dickerson Tax Bill
$5,128
Average Montgomery County Tax Bill
$5,416
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Dickerson, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20842 | $2,683 | $3,722 | $5,128 | $8,253 | $11,465 |
Source: Ownwell