Woodbine, Montgomery County, Maryland Property Taxes
The median property tax rate in Woodbine, MD is 1.10%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Woodbine, the typical annual property tax bill reaches $4,095, exceeding the national median of $2,690. Property taxes in Woodbine 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 Woodbine'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 Woodbine 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
Woodbine, Montgomery County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$4,549
$4,221
Ownwell’s Woodbine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodbine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodbine 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 Montgomery County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Woodbine, Montgomery County, Maryland
Property taxes in Woodbine, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodbine is 1.10%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Woodbine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodbine 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 Woodbine's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21797 zip code has the highest median property tax rate of 1.10%, while it also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Woodbine 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 Woodbine Tax Rate
1.10%
Average Montgomery County Tax Rate
1.11%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodbine, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21797 | 0.89% | 0.93% | 1.10% | 1.14% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Woodbine, Montgomery County, Maryland
In Woodbine, Maryland, understanding the distinction between "market value" and "assessed value" is essential for navigating property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Montgomery County Appraisal District for tax purposes. On the other hand, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. This assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Woodbine, 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 these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the median home price in Woodbine is $413,500, with tax bills ranging from the 25th percentile at $3,243 to the 75th percentile at $5,116. Identifying opportunities for protesting assessments or applying for exemptions can effectively manage the tax burden.
Property Tax Assessment Values Across Woodbine, Montgomery County, Maryland
Source: Ownwell
$110,000
$614,100
$1,118,200
Average Woodbine Assessed Value
$413,500
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 Woodbine, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21797 | $292,100 | $330,650 | $413,500 | $451,700 | $510,800 |
Source: Ownwell
Property Tax Bills Across Woodbine, Montgomery County, Maryland
In Woodbine, located in Montgomery County, MD, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is determined by the county's assessment office. Factors such as property size, location, and improvements can influence this assessed value. For homeowners in Woodbine, the median home price stands at $413,500, and the property tax rate is applied to this assessed value to determine the annual tax bill. The national median property tax rate is 0.99%, but local rates can vary. In Woodbine, the tax bill can range from $3,243 at the 25th percentile to $5,197 at the 90th percentile. The highest and lowest median tax bills in the area are both $4,095, highlighting a relatively narrow range in tax obligations. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these taxes are calculated can help homeowners anticipate their annual expenses and plan accordingly.
Average Woodbine Tax Bill
$4,095
Average Montgomery County Tax Bill
$5,416
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodbine, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21797 | $2,657 | $3,243 | $4,095 | $5,116 | $5,197 |
Source: Ownwell