Morganza, Maryland Property Taxes
The median property tax rate in Morganza, MD is 1.04%, slightly higher than the national median of 0.99% but lower than Maryland's state median of 1.06%. With the median home value in Morganza at $303,000, the typical annual property tax bill reaches $2,965, surpassing the national median of $2,690. Property taxes in Morganza 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 Morganza'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 Morganza or another part of St. Mary's County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morganza, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$3,151
Ownwell’s Morganza Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morganza with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morganza 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 Morganza, Maryland
Property taxes in Morganza, Maryland, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morganza is 1.04%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Morganza set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morganza 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 Morganza's effective property tax rate to other counties in Maryland and the national median. For comparison, the 20660 zip code has the highest median property tax rate of 1.04%, while the 20660 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Morganza 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 Morganza Tax Rate
1.04%
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 Morganza, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20660 | 0.90% | 0.96% | 1.04% | 1.06% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Morganza, Maryland
In Morganza, 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 Morganza, 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 Morganza helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Morganza is $303,000, with the 25th percentile tax bill at $2,651 and the 75th percentile tax bill at $3,698. The highest and lowest median tax bills are both $2,965 in the zip code 20660.
Average Morganza Assessed Value
$303,000
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 Morganza, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20660 | $183,420 | $257,725 | $303,000 | $371,750 | $414,690 |
Source: Ownwell
Property Tax Bills Across Morganza, Maryland
In Morganza, located in St. Mary's County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $303,000, homeowners can expect a tax bill that varies significantly across different percentiles. At the 25th percentile, the tax bill is approximately $2,651, while at the 75th percentile, it rises to about $3,698. The 90th percentile sees tax bills reaching up to $4,398. These property taxes are crucial for funding local public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, the tax rates in Morganza reflect the region's commitment to maintaining a high standard of public amenities. Homeowners in this area should be aware of these factors, as they directly impact annual financial planning and the overall cost of homeownership.
Average Morganza Tax Bill
$2,965
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 Morganza, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20660 | $1,668 | $2,651 | $2,965 | $3,698 | $4,398 |
Source: Ownwell