Queenstown, Maryland Property Taxes
The median property tax rate in Queenstown, MD is 0.92%, which is lower than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Queenstown at $440,200, the typical annual property tax bill reaches $4,177, surpassing the national median of $2,690. Property taxes in Queenstown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Queenstown'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 Queenstown 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
Queenstown, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$4,050
Ownwell’s Queenstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Queenstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Queenstown 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 Queenstown, Maryland
Property taxes in Queenstown, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Queenstown is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Queenstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Queenstown 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 Queenstown's effective property tax rate to other areas in Maryland and the national median. For comparison, the zip code 21658 has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Queenstown 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 Queenstown Tax Rate
0.92%
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 Queenstown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21658 | 0.87% | 0.90% | 0.92% | 0.94% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Queenstown, Maryland
In Queenstown, 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. 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 Queenstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,177 in zip code 21658, while the lowest is also $4,177 in the same zip code.
Average Queenstown Assessed Value
$440,200
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 Queenstown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21658 | $231,260 | $319,000 | $440,200 | $859,300 | $1,299,760 |
Source: Ownwell
Property Tax Bills Across Queenstown, Maryland
In Queenstown, Queen Anne's County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value typically reflects the market value of the property. Homeowners in Queenstown experience a range of property tax bills, with the 25th percentile at $3,169 and the 75th percentile reaching $7,745. The 90th percentile can see tax bills as high as $11,862. These tax bills are influenced by various factors, including the property's location, size, and any improvements or renovations made. For instance, the highest median tax bill in the area is $4,177, found in the zip code 21658, which is also the lowest median tax bill, indicating a consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, homeowners in Queenstown may find their tax bills to be relatively higher, potentially impacting their overall cost of living and financial planning.
Average Queenstown Tax Bill
$4,177
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 Queenstown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21658 | $2,339 | $3,169 | $4,177 | $7,745 | $11,862 |
Source: Ownwell