Centreville, Maryland Property Taxes
The median property tax rate in Centreville, MD is 0.93%, slightly below the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $379,900 in Centreville, the typical annual property tax bill reaches $4,152, surpassing the national median of $2,690. Property taxes in Centreville 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 Centreville'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 Centreville 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
Centreville, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$3,533
Ownwell’s Centreville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centreville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centreville 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 Centreville, Maryland
Property taxes in Centreville, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centreville is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Centreville set these rates annually, and they can vary across different neighborhoods. Each year, Centreville 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 Centreville's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21617 zip code has both the highest and lowest median property tax rate of 0.93%. Understanding how these areas compare with Centreville 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 Centreville Tax Rate
0.93%
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 Centreville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21617 | 0.81% | 0.87% | 0.93% | 1.40% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Centreville, Maryland
In Centreville, 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 Queen Anne'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 Centreville, 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 median home price in Centreville is $379,900, with annual tax bills ranging from $3,089 at the 25th percentile to $6,176 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Centreville Assessed Value
$379,900
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 Centreville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21617 | $229,640 | $303,700 | $379,900 | $461,800 | $597,520 |
Source: Ownwell
Property Tax Bills Across Centreville, Maryland
In Centreville, located in Queen Anne's County, MD, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $379,900, homeowners can expect their tax bills to vary. At the 25th percentile, the tax bill is around $3,089, while at the 75th percentile, it rises to approximately $5,352. At the 90th percentile, this figure goes up to about $6,176. Several factors influence these variations, including changes in the assessed value of the property, local tax rates, and any applicable exemptions or deductions. These property taxes are crucial for funding public services such as schools, infrastructure, and emergency services. For homeowners, understanding these factors is essential for financial planning, as property taxes represent a significant portion of their annual expenses. Compared to the national median property tax rate of 0.99%, Centreville's rates reflect the local government's approach to balancing revenue needs with homeowner affordability.
Average Centreville Tax Bill
$4,152
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 Centreville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21617 | $2,441 | $3,089 | $4,152 | $5,352 | $6,176 |
Source: Ownwell