Grasonville, Maryland Property Taxes
The median property tax rate in Grasonville, MD is 0.91%, which is lower than both the national median of 0.99% and Maryland's state median of 1.06%. With a median home value of $450,000 in Grasonville, the typical annual property tax bill reaches $4,030, significantly higher than the national median of $2,690. Property taxes in Grasonville 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 Grasonville'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 Grasonville 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
Grasonville, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$4,095
$3,800
Ownwell’s Grasonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grasonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grasonville 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 Grasonville, Maryland
Property taxes in Grasonville, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grasonville is 0.91%, which is below the U.S. national median of 0.99%. Local government entities within Grasonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grasonville 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 Grasonville's effective property tax rate to other areas in Queen Anne's County and the national median. For comparison, the zip code 21638 has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these areas compare with Grasonville 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 Grasonville Tax Rate
0.91%
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 Grasonville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21638 | 0.85% | 0.88% | 0.91% | 0.92% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Grasonville, Maryland
In Grasonville, 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 Grasonville, 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. The median home price here is $450,000, with tax bills ranging from $2,569 at the 25th percentile to $7,505 at the 90th percentile. The zip code 21638 has both the highest and lowest median tax bill of $4,030. 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 Grasonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grasonville Assessed Value
$450,000
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 Grasonville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21638 | $199,880 | $282,700 | $450,000 | $582,700 | $830,240 |
Source: Ownwell
Property Tax Bills Across Grasonville, Maryland
In Grasonville, located in Queen Anne's County, MD, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Grasonville can expect their tax bills to vary significantly depending on their property's value. For instance, the 25th percentile tax bill is $2,569, while the 75th percentile tax bill reaches $5,234, and the 90th percentile tax bill can be as high as $7,505. These figures indicate a broad range of property tax obligations within the area. The highest median tax bill in Grasonville is $4,030, which is above the national median property tax rate of 0.99%. Factors such as property improvements, location, and market trends also influence the assessed value, ultimately impacting the tax bill. Homeowners need to be aware of these factors as they directly affect their annual financial commitments and the overall affordability of owning property in Grasonville.
Average Grasonville Tax Bill
$4,030
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 Grasonville, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21638 | $1,840 | $2,569 | $4,030 | $5,234 | $7,505 |
Source: Ownwell