Laurel, Montgomery County, Maryland Property Taxes
Median Laurel, MD effective property tax rate: 1.12%, significantly higher than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median Laurel, MD home value: $530,400
Median annual Laurel, MD tax bill: $6,234, $3,834 higher than the national median property tax bill of $2,400.
How are property taxes in Montgomery calculated?
Property taxes in Laurel, MD are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Laurel’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Laurel, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Laurel, Montgomery County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.12%
Estimate Property Tax Bill
$5,940
$5,513
Property Tax Rates Across Laurel, Montgomery County, Maryland
Local government entities set tax rates, which can vary widely within a state. This variation is because each county annually estimates its required budget to provide services and divides it by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Laurel, located in Montgomery County, Maryland, the effective property tax rate reflects this calculation. Compared to other cities in Maryland, Laurel's rate provides an interesting perspective. Maryland's median property tax rate is slightly above the national median of 1.02%, highlighting the state's emphasis on funding local services. Laurel's rate aligns with the state's median, offering residents a tax rate that supports essential community services while remaining competitive within the state.
When looking at the national picture, property owners in Laurel experience a tax rate that is just above the U.S. median, ensuring that vital services are adequately funded without imposing an excessive burden on residents. This balance makes Laurel an attractive place for property owners who value both community services and reasonable tax rates.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Laurel Tax Rate
1.12%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Montgomery County Tax Rate
1.11%
Median Effective Maryland Tax Rate
1.06%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Laurel, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20707 | 0.97% | 1.10% | 1.12% | 1.16% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Laurel, Montgomery County, Maryland
When examining property taxes in Laurel, MD, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Montgomery County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Montgomery County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Laurel. For example, the median home price in Laurel is $530,400, with tax bills ranging significantly across the county. Zip code 20707 has the highest median home price at $530,400.
Property Tax Assessment Values Across Laurel, Montgomery County, Maryland
Source: Ownwell
$110,000
$614,100
$1,118,200
Median Laurel Market Value
$530,400
Median Montgomery County Market Value
$471,000
Median Maryland Market Value
$317,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Laurel, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20707 | $386,920 | $438,150 | $530,400 | $608,250 | $661,620 |
Source: Ownwell
Property Tax Bills Across Laurel, Montgomery County, Maryland
Median Laurel Tax Bill
$6,234
Median Montgomery County Tax Bill
$5,416
Median Maryland Tax Bill
$3,419
Median United States Tax Bill
$2,400
Property Tax Bills Across Laurel, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20707 | $4,082 | $4,783 | $6,234 | $7,112 | $8,235 |
Source: Ownwell