Beltsville, Maryland Property Taxes
The median property tax rate in Beltsville, MD is 0.97%, slightly below the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Beltsville at $406,750, the typical annual property tax bill reaches $4,000, significantly higher than the national median of $2,690. Property taxes in Beltsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Beltsville'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 Beltsville 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
Beltsville, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$3,945
Ownwell’s Beltsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beltsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beltsville 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 Beltsville, Maryland
Property taxes in Beltsville, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beltsville is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Beltsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beltsville 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 Beltsville's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 20705 has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these cities compare with Beltsville provides valuable insights into the varying tax landscape across Prince George's County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beltsville Tax Rate
0.97%
Average Prince George's County Tax Rate
1.11%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beltsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20705 | 0.92% | 0.94% | 0.97% | 1.00% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Beltsville, Maryland
In Beltsville, 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 Prince George's 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 Beltsville, 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 Beltsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,000 in the 20705 zip code.
Average Beltsville Assessed Value
$406,750
Average Prince George's County Assessed Value
$345,300
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beltsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20705 | $150,300 | $316,975 | $406,750 | $475,225 | $573,080 |
Source: Ownwell
Property Tax Bills Across Beltsville, Maryland
In Beltsville, located in Prince George's County, MD, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $406,750. The local property tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Beltsville, the tax bill varies; the 25th percentile tax bill is $3,201, while the 75th percentile reaches $4,611. At the 90th percentile, homeowners can expect to pay around $5,645 annually. Several factors contribute to the calculation of property tax bills, including the home's assessed value, which is determined by local assessors, and the specific tax rate set by the county. This system ensures that property taxes are proportionate to the value of the property. Compared to the national median property tax rate of 0.99%, Beltsville homeowners may experience varying levels of financial impact, depending on their property's assessed value. The highest and lowest median tax bills in the area are both $4,000, indicating a consistent tax burden within the zip code 20705.
Average Beltsville Tax Bill
$4,000
Average Prince George's County Tax Bill
$3,870
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Beltsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20705 | $1,511 | $3,201 | $4,000 | $4,611 | $5,645 |
Source: Ownwell