Saint Inigoes, Maryland Property Taxes
The median property tax rate in Saint Inigoes, MD is 1.08%, which is higher than both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $319,800 in Saint Inigoes, the typical annual property tax bill reaches $3,433, surpassing the national median of $2,690. Property taxes in Saint Inigoes are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saint Inigoes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Saint Inigoes 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
Saint Inigoes, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,454
Ownwell’s Saint Inigoes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Inigoes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Inigoes 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 Saint Inigoes, Maryland
Property taxes in Saint Inigoes, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Inigoes is 1.08%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Saint Inigoes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Inigoes 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 Saint Inigoes' effective property tax rate to other counties in Maryland and the national median. For comparison, the 20684 zip code has the highest median property tax rate of 1.08%, while the same 20684 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Saint Inigoes 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 Saint Inigoes 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 Saint Inigoes, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20684 | 1.05% | 1.07% | 1.08% | 1.10% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Saint Inigoes, Maryland
In Saint Inigoes, 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 Saint Inigoes, 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. For instance, the median home price in Saint Inigoes is $319,800, with tax bills ranging from $2,533 at the 25th percentile to $5,578 at the 90th percentile. The highest and lowest median tax bills are both $3,433 in zip code 20684. 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 Saint Inigoes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Saint Inigoes, Maryland
Source: Ownwell
$179,000
$350,150
$521,300
Average Saint Inigoes Assessed Value
$319,800
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 Saint Inigoes, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20684 | $185,840 | $235,400 | $319,800 | $418,900 | $530,920 |
Source: Ownwell
Property Tax Bills Across Saint Inigoes, Maryland
In Saint Inigoes, located in St. Mary's County, MD, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor, who evaluates the property's market value. Once the assessed value is established, the property tax rate is applied to calculate the annual tax bill. Homeowners in Saint Inigoes experience a range of property tax bills. For instance, the 25th percentile tax bill is approximately $2,533, while the 75th percentile tax bill reaches around $4,463. At the higher end, the 90th percentile tax bill can be as much as $5,578. Notably, the median home price in the area stands at $319,800, which influences the overall tax bill. Compared to the national median property tax rate of 0.99%, Saint Inigoes' property tax bills reflect the region's specific economic conditions and property values. Homeowners should be aware of these factors as they significantly impact their annual financial obligations.
Average Saint Inigoes Tax Bill
$3,433
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 Saint Inigoes, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20684 | $1,981 | $2,533 | $3,433 | $4,463 | $5,578 |
Source: Ownwell