Chester, Maryland Property Taxes
The median property tax rate in Chester, MD is 0.94%, slightly lower than both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $355,900 in Chester, the typical annual property tax bill amounts to $3,372, surpassing the national median of $2,690. Property taxes in Chester are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Chester'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 Chester 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
Chester, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$3,345
$3,104
Ownwell’s Chester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chester 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 Chester, Maryland
Property taxes in Chester, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chester is 1.04%, higher than both the Maryland state median of 1.06% and the U.S. national median of 0.99%. Local government entities within Chester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chester 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 Chester's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21619 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Chester 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 Chester Tax Rate
0.94%
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 Chester, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21619 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Chester, Maryland
In Chester, 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 Chester, 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. For instance, the zip code 21619 has the highest median tax bill of $3,372, which is also the lowest in the area. 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 Chester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chester Assessed Value
$355,900
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 Chester, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21619 | $205,000 | $258,100 | $355,900 | $523,000 | $676,740 |
Source: Ownwell
Property Tax Bills Across Chester, Maryland
In Chester, property tax bills are calculated based on the assessed value of a home, which is determined by the Queen Anne's County tax assessor. The assessed value typically reflects a percentage of the market value of the property. Homeowners in Chester can expect to pay a property tax rate that contributes to their overall tax bill. For example, the median home price in Chester is $355,900, and property tax bills can vary significantly. The 25th percentile tax bill is around $2,451, while the 75th percentile tax bill reaches approximately $4,934. For those in the 90th percentile, tax bills can soar to $6,372. These tax bills are influenced by several factors, including the property's location, size, and improvements, as well as local government budget needs. Homeowners in Chester should be aware that their property tax bills may be higher or lower than the national median property tax rate of 0.99%, depending on these assessed values and local tax rates. This variability can significantly affect household budgets and financial planning.
Average Chester Tax Bill
$3,372
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 Chester, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21619 | $1,982 | $2,451 | $3,372 | $4,934 | $6,372 |
Source: Ownwell