Dameron, Maryland Property Taxes
The median property tax rate in Dameron, MD is 1.08%, considerably higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Dameron, the typical annual property tax bill reaches $3,569, exceeding the national median of $2,690. Property taxes in Dameron 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 Dameron'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 Dameron 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
Dameron, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,600
Ownwell’s Dameron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dameron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dameron 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 Dameron, Maryland
Property taxes in Dameron, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dameron is 1.08%, significantly higher than the U.S. national median of 0.99%. Local government entities within Dameron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dameron 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 Dameron's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 20628 has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Dameron 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 Dameron Tax Rate
1.08%
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 Dameron, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20628 | 1.03% | 1.06% | 1.08% | 1.09% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Dameron, Maryland
In Dameron, 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 St. Mary'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 Dameron, 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. The median home price in Dameron is $333,350, with tax bills ranging from $2,683 at the 25th percentile to $7,060 at the 90th percentile. The zip code 20628 has the highest median tax bill at $3,569. 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 Dameron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dameron Assessed Value
$333,350
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 Dameron, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20628 | $149,710 | $239,700 | $333,350 | $456,450 | $622,800 |
Source: Ownwell
Property Tax Bills Across Dameron, Maryland
In Dameron, St. Mary's County, MD, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor's office. This assessed value is a percentage of the property's market value. Homeowners in Dameron can expect their property tax bills to vary significantly, influenced by the assessed value and the local tax rate. The median home price in Dameron is $333,350, and property tax bills range widely. For instance, the 25th percentile tax bill is approximately $2,683, while the 75th percentile reaches about $4,909, and the 90th percentile can go up to $7,060. These figures illustrate the variability in tax burdens among homeowners, depending on their property's assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Dameron may experience higher or lower tax rates, affecting their overall financial obligations. Understanding these factors is crucial for homeowners to anticipate their annual tax responsibilities and budget accordingly.
Average Dameron Tax Bill
$3,569
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 Dameron, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20628 | $1,844 | $2,683 | $3,569 | $4,909 | $7,060 |
Source: Ownwell