Ewell, Maryland Property Taxes
The median property tax rate in Ewell, MD is 0.85%, which is notably lower than both the national median of 0.99% and Maryland's state median of 1.06%. With the median home value in Ewell at $84,600, the typical annual property tax bill amounts to $711, significantly less than the national median of $2,690. Property taxes in Ewell are calculated based on the assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Ewell'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 Ewell 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
Ewell, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$719
Ownwell’s EWELL Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in EWELL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EWELL to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those 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 Ewell, Maryland
Property taxes in Ewell, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ewell is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Ewell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ewell 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 Ewell's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 21824 has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these areas compare with Ewell provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ewell Tax Rate
0.85%
Average Somerset County Tax Rate
1.08%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ewell, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21824 | 0.79% | 0.82% | 0.85% | 0.89% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Ewell, Maryland
In Ewell, 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 Somerset 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 Ewell, 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 Ewell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ewell is $84,600, with tax bills ranging from $504 at the 25th percentile to $1,232 at the 90th percentile. The highest and lowest median tax bills are both found in the 21824 zip code, each at $711.
Average Ewell Assessed Value
$84,600
Average Somerset County Assessed Value
$114,600
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ewell, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21824 | $44,400 | $60,900 | $84,600 | $109,950 | $136,400 |
Source: Ownwell
Property Tax Bills Across Ewell, Maryland
In Ewell, Somerset County, MD, property tax bills are calculated based on the assessed value of your home. The local government assesses the value of your property to determine its taxable value. This assessment considers factors such as the property's size, location, and market conditions. Once the assessed value is established, the property tax rate is applied to calculate the tax bill. For homeowners in Ewell, the tax bill can vary significantly. The median home price in the area is $84,600. At the 25th percentile, tax bills are around $504, while at the 75th percentile, they can reach up to $962. Those at the 90th percentile might see tax bills as high as $1,232. These variations are influenced by differences in property values and the specific characteristics of each home. Compared to the national median property tax rate of 0.99%, Somerset County's rates may seem high or low depending on individual circumstances. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Ewell Tax Bill
$711
Average Somerset County Tax Bill
$1,158
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Ewell, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21824 | $382 | $504 | $711 | $962 | $1,232 |
Source: Ownwell