Fort Washington, Maryland Property Taxes
The median property tax rate in Fort Washington, MD is 1.05%, slightly higher than the national median of 0.99% but just below Maryland's state median of 1.06%. With a median home value of $362,700, the typical annual property tax bill in Fort Washington reaches $3,812, significantly surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Fort Washington's property tax system and exploring available exemptions, homeowners and real estate investors can identify opportunities for substantial annual savings. Whether you're located in the heart of Fort Washington or elsewhere in the city, having a solid grasp of the local property tax system can provide financial benefits and peace of mind.
Last Updated June 14, 2024
Fort Washington, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$3,808
$3,534
Ownwell’s Fort Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Washington 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 Fort Washington, Maryland
Property taxes in Fort Washington, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Washington is 1.05%, higher than the U.S. national median of 0.99%. Local government entities within Fort Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Washington 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 Fort Washington's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 20744 has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these areas compare with Fort Washington 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 Fort Washington Tax Rate
1.05%
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 Fort Washington, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20744 | 1.01% | 1.03% | 1.05% | 1.08% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Fort Washington, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fort Washington, 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 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 Fort Washington, 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 Fort Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 20744 has a median tax bill of $3,812, demonstrating the potential for significant tax savings through proper management.
Property Tax Assessment Values Across Fort Washington, Maryland
Source: Ownwell
$223,000
$390,725
$558,450
Average Fort Washington Assessed Value
$362,700
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 Fort Washington, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20744 | $245,880 | $311,000 | $362,700 | $438,300 | $551,280 |
Source: Ownwell
Property Tax Bills Across Fort Washington, Maryland
In Fort Washington, located in Prince George's County, MD, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in this area face a median property tax bill of $3,812, with the 25th percentile at $3,290 and the 75th percentile at $4,631. The highest tax bills can reach up to $5,799, depending on various factors such as property size, location, and improvements. Several factors influence the final tax bill, including the home's assessed value, the property tax rate set by local authorities, and any applicable exemptions or deductions. These tax bills significantly impact homeowners, as they contribute to the overall cost of owning a property. Compared to the national median property tax rate of 0.99%, homeowners in Fort Washington experience a relatively high tax burden, reflecting the area's property values and local tax policies.
Average Fort Washington Tax Bill
$3,812
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 Fort Washington, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20744 | $2,694 | $3,290 | $3,812 | $4,631 | $5,799 |
Source: Ownwell