Henderson, Maryland Property Taxes
The median property tax rate in Henderson, MD is 0.81%, notably lower than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Henderson at $395,400, the typical annual property tax bill reaches $2,866, slightly surpassing the national median of $2,690. Property taxes in Henderson are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Henderson'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 Henderson 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
Henderson, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$3,203
$2,972
Ownwell’s Henderson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Henderson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Henderson 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 Henderson, Maryland
Property taxes in Henderson, Maryland, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Henderson is 0.81%, which is lower than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Henderson set these rates annually, and they can vary across different neighborhoods. Each year, Henderson estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 Henderson's effective property tax rate to other areas in Queen Anne's County and the national median. For comparison, the zip code 21640 has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Henderson 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 Henderson Tax Rate
0.81%
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 Henderson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21640 | 0.77% | 0.80% | 0.81% | 0.83% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Henderson, Maryland
In Henderson, 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 Henderson, 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 Henderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills are both $2,866 in the 21640 zip code.
Average Henderson Assessed Value
$395,400
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 Henderson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21640 | $211,320 | $291,500 | $395,400 | $463,600 | $656,780 |
Source: Ownwell
Property Tax Bills Across Henderson, Maryland
In Henderson, MD, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by Queen Anne's County. Homeowners in Henderson typically see tax bills that vary depending on their property's value and specific exemptions they may qualify for. For instance, the median home price in Henderson is $395,400. Depending on the assessed value, property tax bills can range significantly. The 25th percentile tax bill is around $2,435, while the 75th percentile tax bill reaches $3,791. At the 90th percentile, homeowners might see tax bills as high as $5,456. These variations illustrate the impact of property value on tax obligations. Compared to the national median property tax rate of 0.99%, Henderson's property tax bills reflect the local economic conditions and tax policies. Homeowners need to be aware of these factors as they directly affect their annual financial planning and overall cost of homeownership.
Average Henderson Tax Bill
$2,866
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 Henderson, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21640 | $1,821 | $2,435 | $2,866 | $3,791 | $5,456 |
Source: Ownwell