Saint Marys City, Maryland Property Taxes
The median property tax rate in Saint Marys City, MD is 1.08%, slightly higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Saint Marys City at $357,650, the typical annual property tax bill reaches $3,847, exceeding the national median of $2,690. Property taxes in Saint Marys City 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 Saint Marys City'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 Saint Marys City 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 Marys City, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,863
Ownwell’s Saint Marys City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Marys City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Marys City 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 Marys City, Maryland
Property taxes in Saint Marys City, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Marys City is 1.08%, higher than the U.S. national median of 0.99%. Local government entities within Saint Marys City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Marys City 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 Marys City's effective property tax rate to other areas and the national median. For comparison, the 20686 zip code has the highest median property tax rate of 1.08%, while it also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Saint Marys City 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 Marys City 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 Marys City, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20686 | 1.07% | 1.07% | 1.08% | 1.09% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Saint Marys City, Maryland
In Saint Marys City, Maryland, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Marys City, 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 Saint Marys City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 20686, with a median tax bill of $3,847.
Property Tax Assessment Values Across Saint Marys City, Maryland
Source: Ownwell
$179,000
$350,150
$521,300
Average Saint Marys City Assessed Value
$357,650
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 Marys City, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20686 | $212,580 | $289,425 | $357,650 | $419,475 | $707,340 |
Source: Ownwell
Property Tax Bills Across Saint Marys City, Maryland
In Saint Marys City, 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 typically reflects a percentage of the market value of the property. The local property tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the home's location, size, and condition, as well as any applicable exemptions or deductions. Homeowners in Saint Marys City can expect tax bills that vary significantly, with the 25th percentile at $3,144 and the 75th percentile at $4,484. The highest median tax bill in the area is $3,847, which is notably higher than the national median property tax rate of 0.99%. These tax bills can have a substantial impact on homeowners, affecting their overall housing costs and financial planning. Understanding how these taxes are calculated can help homeowners budget more effectively and potentially seek available exemptions to reduce their burden.
Average Saint Marys City Tax Bill
$3,847
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 Marys City, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20686 | $2,352 | $3,144 | $3,847 | $4,484 | $7,452 |
Source: Ownwell