Upper Marlboro, Maryland Property Taxes
The median property tax rate in UPPER MARLBORO, MD is 0.98%, slightly below the Maryland state median of 1.06% but close to the national median of 0.99%. With the median home value in UPPER MARLBORO at $387,300, the typical annual property tax bill reaches $3,994, significantly higher than the national median of $2,690. Property taxes in UPPER MARLBORO 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 UPPER MARLBORO'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 UPPER MARLBORO 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
Upper Marlboro, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$3,796
$3,522
Ownwell’s UPPER MARLBORO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UPPER MARLBORO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UPPER MARLBORO 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 Upper Marlboro, Maryland
Property taxes in Upper Marlboro, Maryland, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Upper Marlboro is 0.98%, which is slightly below the Maryland state median but marginally lower than the U.S. national median of 0.99%. Local government entities within Upper Marlboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Upper Marlboro 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 Upper Marlboro's effective property tax rate to other areas in Prince George's County and the national median. For comparison, the 20774 zip code has the highest median property tax rate of 1.07%, while the 20772 zip code has the lowest median tax rate of 0.96%. Understanding how these areas compare with Upper Marlboro 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 Upper Marlboro Tax Rate
0.98%
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 Upper Marlboro, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20772 | 0.89% | 0.93% | 0.96% | 1.00% | 1.09% |
| 20774 | 0.92% | 0.95% | 1.07% | 1.11% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Upper Marlboro, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Upper Marlboro, 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 local 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 Upper Marlboro, 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. For instance, the highest median tax bill in the area is $4,002 in the 20774 zip code, while the lowest is $3,984 in the 20772 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Upper Marlboro, Maryland
Source: Ownwell
$223,000
$390,725
$558,450
Average Upper Marlboro Assessed Value
$387,300
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 Upper Marlboro, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20772 | $253,600 | $331,500 | $397,200 | $526,300 | $667,200 |
| 20774 | $155,000 | $261,900 | $369,500 | $503,100 | $686,410 |
Source: Ownwell
Property Tax Bills Across Upper Marlboro, Maryland
In Upper Marlboro, 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 local government assessors who evaluate the market value of the property. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's location, size, and condition, as well as market trends and recent sales of comparable properties. For homeowners in Upper Marlboro, the median home price is $387,300. Property tax bills can vary significantly; for example, the 25th percentile tax bill is $3,151, while the 75th percentile reaches $5,069, and the 90th percentile can be as high as $6,606. These tax bills can have a substantial impact on homeowners' finances, influencing decisions on purchasing, selling, or refinancing properties. Compared to the national median property tax rate of 0.99%, Upper Marlboro's property tax rates reflect the region's unique market conditions and local government funding requirements.
Average Upper Marlboro Tax Bill
$3,994
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 Upper Marlboro, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20772 | $2,793 | $3,259 | $3,984 | $5,164 | $6,635 |
| 20774 | $2,132 | $2,953 | $4,002 | $4,923 | $6,590 |
Source: Ownwell