Leonardtown, Maryland Property Taxes
The median property tax rate in Leonardtown, MD is 0.96%, slightly below the state median of 1.06% but close to the national median of 0.99%. With the median home value in Leonardtown at $407,500, the typical annual property tax bill reaches $3,840, significantly higher than the national median of $2,690. Property taxes in Leonardtown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Leonardtown'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 Leonardtown 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
Leonardtown, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$3,912
Ownwell’s Leonardtown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leonardtown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leonardtown 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 Leonardtown, Maryland
Property taxes in Leonardtown, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leonardtown is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Leonardtown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leonardtown 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 Leonardtown's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 20650 has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Leonardtown 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 Leonardtown Tax Rate
0.96%
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 Leonardtown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20650 | 0.86% | 0.92% | 0.96% | 1.01% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Leonardtown, Maryland
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Leonardtown, 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 local 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 Leonardtown, 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. In Leonardtown, the median home price is $407,500, with tax bills ranging from $2,806 at the 25th percentile to $5,968 at the 90th percentile. The highest and lowest median tax bill, both at $3,840, are found in the 20650 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leonardtown Assessed Value
$407,500
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 Leonardtown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20650 | $224,160 | $298,100 | $407,500 | $515,500 | $618,540 |
Source: Ownwell
Property Tax Bills Across Leonardtown, Maryland
In Leonardtown, 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 median home price in Leonardtown is $407,500, and the property tax rate is applied to this value to determine the tax bill. Various factors, such as the home's location, size, and condition, influence its assessed value. For example, homeowners in Leonardtown can expect a tax bill ranging from $2,806 at the 25th percentile to $5,968 at the 90th percentile. Comparatively, the national median property tax rate is 0.99%, meaning Leonardtown's tax bills can be higher than the national average, reflecting the local real estate market and municipal funding needs. The highest and lowest median tax bills in Leonardtown both stand at $3,840, indicating a relatively consistent tax burden across different properties. These property taxes contribute to public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Leonardtown Tax Bill
$3,840
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 Leonardtown, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20650 | $2,125 | $2,806 | $3,840 | $4,954 | $5,968 |
Source: Ownwell