Hyattsville, Maryland Property Taxes
The median property tax rate in Hyattsville, MD is 1.11%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Hyattsville, the typical annual property tax bill reaches $3,361, exceeding the national median of $2,690. Property taxes in Hyattsville 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 Hyattsville'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 Hyattsville 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
Hyattsville, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$3,290
Ownwell’s Hyattsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hyattsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hyattsville 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 Hyattsville, Maryland
Property taxes in Hyattsville, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hyattsville is 1.11%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Hyattsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hyattsville 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 Hyattsville's effective property tax rate to other areas in Prince George's County and the national median. For comparison, the 20781 zip code has the highest median property tax rate of 1.51%, while the 20783 zip code has the lowest median tax rate of 1.06%. Understanding how these areas compare with Hyattsville 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 Hyattsville Tax Rate
1.11%
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 Hyattsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20774 | N/A | N/A | N/A | N/A | N/A |
| 20781 | 1.11% | 1.11% | 1.51% | 1.56% | 1.59% |
| 20782 | 1.05% | 1.06% | 1.10% | 1.51% | 1.56% |
| 20783 | 1.01% | 1.04% | 1.06% | 1.08% | 1.10% |
| 20784 | 1.11% | 1.11% | 1.11% | 1.11% | 1.54% |
| 20785 | 1.11% | 1.11% | 1.11% | 1.11% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Hyattsville, Maryland
In Hyattsville, 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 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 Hyattsville, 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 Hyattsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $5,164 in the 20781 zip code, while the lowest median tax bill is $2,662 in the 20785 zip code.
Average Hyattsville Assessed Value
$296,400
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 Hyattsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20774 | N/A | N/A | N/A | N/A | N/A |
| 20781 | $184,780 | $252,800 | $348,100 | $458,200 | $527,860 |
| 20782 | $125,000 | $301,425 | $347,650 | $409,500 | $508,250 |
| 20783 | $113,500 | $289,400 | $337,000 | $377,250 | $426,580 |
| 20784 | $230,400 | $248,100 | $273,400 | $300,100 | $329,500 |
| 20785 | $138,000 | $204,900 | $238,900 | $289,100 | $359,600 |
Source: Ownwell
Property Tax Bills Across Hyattsville, Maryland
In Hyattsville, Prince George's County, MD, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county and is meant to reflect the market value of the property. Homeowners in Hyattsville can expect a median home price of $296,400. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the specific zip code and any applicable exemptions or deductions. For example, the highest median tax bill in the area is $5164 in zip code 20781, while the lowest median tax bill is $2662 in zip code 20785. The tax bill can vary significantly, with the 25th percentile at $2645 and the 75th percentile at $4240. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners. Compared to the national median property tax rate of 0.99%, Hyattsville's rates can be considered relatively moderate, yet they still represent a significant annual expense for homeowners.
Average Hyattsville Tax Bill
$3,361
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 Hyattsville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20774 | N/A | N/A | N/A | N/A | N/A |
| 20781 | $2,517 | $2,965 | $5,164 | $6,997 | $8,009 |
| 20782 | $2,863 | $3,535 | $4,320 | $5,630 | $7,191 |
| 20783 | $1,171 | $3,107 | $3,598 | $4,027 | $4,882 |
| 20784 | $2,566 | $2,772 | $3,100 | $3,519 | $4,260 |
| 20785 | $1,813 | $2,280 | $2,662 | $3,228 | $4,031 |
Source: Ownwell