Brandywine, Maryland Property Taxes
The median property tax rate in Brandywine, MD is 0.96%, slightly lower than both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $462,900 in Brandywine, the typical annual property tax bill reaches $4,590, significantly exceeding the national median of $2,690. Property taxes in Brandywine are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brandywine'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 Brandywine or another part of Prince George's County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brandywine, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$4,444
Ownwell’s Brandywine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brandywine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brandywine 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 Prince George's County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Brandywine, Maryland
Property taxes in Brandywine, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brandywine is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Brandywine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brandywine 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 Brandywine's effective property tax rate to other areas in Maryland and the national median. For comparison, the 20613 zip code has the highest median property tax rate of 0.96%, while the same zip code also represents the lowest median tax rate of 0.96%. Understanding how these areas compare with Brandywine 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 Brandywine Tax Rate
0.96%
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 Brandywine, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20613 | 0.89% | 0.92% | 0.96% | 0.99% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Brandywine, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Brandywine, Maryland. 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 assessment office 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 Brandywine, 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 Brandywine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 20613 has the highest median tax bill at $4590.00, while also being the lowest.
Average Brandywine Assessed Value
$462,900
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 Brandywine, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20613 | $249,700 | $359,300 | $462,900 | $619,100 | $746,820 |
Source: Ownwell
Property Tax Bills Across Brandywine, Maryland
In Brandywine, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. The assessed value is then multiplied by the property tax rate set by Prince George's County. Homeowners in Brandywine face a median property tax bill of $4,590, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the home's assessed value and the specific tax rates applied by the county. For instance, a home in the 25th percentile of tax bills pays around $3,573, while a home in the 75th percentile pays approximately $6,092. At the 90th percentile, homeowners can expect to pay up to $7,289. These property tax bills can significantly impact homeowners' finances, especially when compared to the national median. Higher property taxes mean higher monthly mortgage payments, which can affect affordability and long-term financial planning for residents in Brandywine.
Average Brandywine Tax Bill
$4,590
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 Brandywine, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20613 | $2,876 | $3,573 | $4,590 | $6,092 | $7,289 |
Source: Ownwell