Barclay, Maryland Property Taxes
The median property tax rate in Barclay, MD is 0.84%, which is notably lower than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Barclay at $237,550, the typical annual property tax bill comes to $2,007, falling short of the national median of $2,690. Property taxes in Barclay are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Barclay'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 Barclay or another part of Queen Anne's County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barclay, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,995
$1,852
Ownwell’s Barclay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barclay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barclay 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 Barclay, Maryland
Property taxes in Barclay, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barclay is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Barclay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barclay 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 Barclay's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21607 zip code has the highest median property tax rate of 0.84%, while the 21607 zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Barclay provides valuable insights into the varying tax landscape across Queen Anne's County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barclay Tax Rate
0.84%
Average Queen Anne's County Tax Rate
0.94%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barclay, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21607 | 0.73% | 0.80% | 0.84% | 0.91% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Barclay, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Barclay, MD. 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 Queen Anne's County 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 Barclay, 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 Barclay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Barclay is $2007, found in the 21607 zip code, while the lowest median tax bill is also $2007 in the same zip code.
Average Barclay Assessed Value
$237,550
Average Queen Anne's County Assessed Value
$361,000
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barclay, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21607 | $131,530 | $179,825 | $237,550 | $339,300 | $505,640 |
Source: Ownwell
Property Tax Bills Across Barclay, Maryland
In Barclay, MD, located in Queen Anne's County, property tax bills are calculated based on the assessed value of your home. This assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Barclay can expect their property tax bills to vary significantly, influenced by factors such as property size, location, and market conditions. For instance, the median home price in Barclay is $237,550, and the property tax rate is applied to this assessed value to calculate the annual tax bill. Property tax bills in Barclay range from $1,589 at the 25th percentile to $4,048 at the 90th percentile, indicating a wide variation based on property characteristics. The highest median tax bill recorded in the area is $2,007, which aligns with the national median property tax rate of 0.99%. These tax bills impact homeowners by contributing to the overall cost of owning property in Barclay, making it essential for homeowners to understand how their tax bill is determined and budget accordingly.
Average Barclay Tax Bill
$2,007
Average Queen Anne's County Tax Bill
$3,399
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Barclay, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21607 | $1,290 | $1,589 | $2,007 | $2,753 | $4,048 |
Source: Ownwell