Millington, Maryland Property Taxes
The median property tax rate in Millington, MD is 0.81%, which is lower than both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $259,700 in Millington, the typical annual property tax bill amounts to $2,085, which is below the national median of $2,690. Property taxes in Millington 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 Millington'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 Millington 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
Millington, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$2,104
$1,952
Ownwell’s Millington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millington 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 Millington, Maryland
Property taxes in Millington, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millington is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Millington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millington 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 Millington's effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 21651 has both the highest and lowest median property tax rate of 0.81%, reflecting a uniform rate within this area. Understanding how these regions compare with Millington 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 Millington 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 Millington, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21651 | 0.73% | 0.76% | 0.81% | 0.86% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Millington, Maryland
In Millington, 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 Millington, 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 Millington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Millington is $259,700, with the highest median tax bill at $2,085 in zip code 21651.
Average Millington Assessed Value
$259,700
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 Millington, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21651 | $142,360 | $191,000 | $259,700 | $351,400 | $437,700 |
Source: Ownwell
Property Tax Bills Across Millington, Maryland
In Millington, Queen Anne's County, MD, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Millington, the median home price is $259,700, and this figure is crucial in estimating the property tax bill. Factors such as the property's location, size, and improvements can influence its assessed value. Homeowners might see tax bills ranging from $1,581 at the 25th percentile to $2,861 at the 75th percentile, with the 90th percentile reaching up to $3,508. These figures highlight the variability in tax bills based on property values and local tax rates. Compared to the national median property tax rate of 0.99%, Millington's tax rates might seem higher or lower depending on individual property assessments. This variability can significantly impact homeowners' annual expenses, making it essential for them to understand how their property is valued and taxed.
Average Millington Tax Bill
$2,085
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 Millington, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21651 | $1,248 | $1,581 | $2,085 | $2,861 | $3,508 |
Source: Ownwell