Sandy Spring, Montgomery County, Maryland Property Taxes
The median property tax rate in Sandy Spring, MD is 1.14%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Sandy Spring at $627,500, the typical annual property tax bill reaches $7,514, exceeding the national median of $2,690. Property taxes in Sandy Spring 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 Sandy Spring'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 Sandy Spring 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
Sandy Spring, Montgomery County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$7,153
$6,638
Ownwell’s Sandy Spring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sandy Spring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sandy Spring 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 Sandy Spring, Montgomery County, Maryland
Property taxes in Sandy Spring, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sandy Spring is 1.14%, which is higher than the U.S. national median of 0.99%. Local government entities within Sandy Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sandy Spring 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 Sandy Spring's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the zip code 20860 has the highest median property tax rate of 1.14%, while the zip code 20905 has the lowest median tax rate of 1.14%. Understanding how these areas compare with Sandy Spring 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 Sandy Spring Tax Rate
1.14%
Average Montgomery County Tax Rate
1.11%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sandy Spring, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20860 | 0.91% | 1.10% | 1.14% | 1.22% | 1.36% |
| 20905 | 1.11% | 1.13% | 1.14% | 1.14% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Sandy Spring, Montgomery County, Maryland
In Sandy Spring, 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 Sandy Spring, 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 Sandy Spring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $9,708 in the 20905 zip code, while the lowest median tax bill is $6,937 in the 20860 zip code. With the national median property tax rate at 0.99%, Sandy Spring's tax bills reflect the area's higher property values and local tax policies.
Property Tax Assessment Values Across Sandy Spring, Montgomery County, Maryland
Source: Ownwell
$110,000
$614,100
$1,118,200
Average Sandy Spring Assessed Value
$627,500
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 Sandy Spring, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20860 | $248,700 | $365,000 | $580,350 | $859,950 | $1,031,770 |
| 20905 | $709,440 | $783,800 | $851,900 | $926,300 | $1,006,220 |
Source: Ownwell
Property Tax Bills Across Sandy Spring, Montgomery County, Maryland
In Sandy Spring, located in Montgomery County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, reflecting current real estate trends. Homeowners in Sandy Spring face a median property tax bill that can vary significantly. For example, the tax bill at the 25th percentile is $4,775, while at the 75th percentile, it rises to $10,287. At the 90th percentile, the tax bill reaches $11,983. These variations are influenced by factors such as property size, home improvements, and neighborhood amenities. Comparing this to the national median property tax rate of 0.99%, Sandy Spring's property tax bills are relatively high, impacting homeowners by increasing the annual cost of homeownership. The highest median tax bill in the area is $9,708 in the 20905 zip code, while the lowest is $6,937 in the 20860 zip code, demonstrating the range of property tax liabilities within the region.
Property Tax Bills Across Sandy Spring, Montgomery County, Maryland
Source: Ownwell
$1,180
$6,981
$12,781
Average Sandy Spring Tax Bill
$7,514
Average Montgomery County Tax Bill
$5,416
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Sandy Spring, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20860 | $2,807 | $4,397 | $6,937 | $10,117 | $12,061 |
| 20905 | $7,660 | $8,846 | $9,708 | $10,691 | $11,725 |
Source: Ownwell