Avenue, Maryland Property Taxes
The median property tax rate in Avenue, MD is 1.07%, slightly higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Avenue, the typical annual property tax bill reaches $3,340, exceeding the national median of $2,690. Property taxes in Avenue 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 Avenue'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 Avenue 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
Avenue, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$3,441
$3,193
Ownwell’s Avenue Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Avenue with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Avenue 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 Avenue, Maryland
Property taxes in Avenue, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Avenue is 1.07%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Avenue set these rates annually, and they can vary significantly across different neighborhoods. Each year, Avenue 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 Avenue's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20609 zip code has the highest median property tax rate of 1.07%, while the 20609 zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Avenue provides valuable insights into the varying tax landscape across St. Mary's County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Avenue Tax Rate
1.07%
Average St. Mary's County Tax Rate
1.05%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Avenue, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20609 | 0.95% | 1.04% | 1.07% | 1.10% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Avenue, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Avenue, Maryland. 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 St. Mary's County assessment office 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 Avenue, 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. Avenue's median home price stands at $321,600, with tax bills ranging widely. For instance, the 25th percentile tax bill is $2,418, while the 75th percentile reaches $4,603, and the 90th percentile soars to $6,330. The zip code with the highest median tax bill is 20609, amounting to $3,340. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Avenue Assessed Value
$321,600
Average St. Mary's County Assessed Value
$302,600
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Avenue, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20609 | $170,860 | $241,500 | $321,600 | $438,400 | $616,800 |
Source: Ownwell
Property Tax Bills Across Avenue, Maryland
In Avenue, located in St. Mary’s County, MD, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property assessor and reflects the estimated market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Avenue, the median home price is $321,600. Property tax bills can vary widely, with the 25th percentile at $2,418 and the 75th percentile reaching up to $4,603. The 90th percentile tax bill can go as high as $6,330, reflecting the higher end of property values in the area. These property taxes significantly impact homeowners by contributing to local services such as public education, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, homeowners in Avenue may find their tax bills to be relatively substantial, depending on their property's assessed value and the specific local tax rate applied.
Average Avenue Tax Bill
$3,340
Average St. Mary's County Tax Bill
$3,095
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Avenue, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20609 | $1,683 | $2,418 | $3,340 | $4,603 | $6,330 |
Source: Ownwell