St Marys City, Maryland Property Taxes
The median property tax rate in St. Marys City, MD is 1.08%, which is higher than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in St. Marys City at $288,150, the typical annual property tax bill reaches $3,723, surpassing the national median of $2,690. Property taxes in St. Marys City are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding St. 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 St. Marys City or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
St Marys City, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,112
Ownwell’s St. Marys City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in St. Marys City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in St. 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 St Marys City, Maryland
Property taxes in St. 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 St. Marys City is 1.08%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within St. Marys City set these rates annually, and they can vary significantly across different neighborhoods. Each year, St. 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 St. Marys City's effective property tax rate to other counties in Maryland and the national median. For comparison, the zip code 20686 has both the highest and lowest median property tax rate of 1.08%. Understanding how these cities compare with St. 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 St 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 St Marys City, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20686 | 1.06% | 1.07% | 1.08% | 1.10% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across St Marys City, Maryland
In St. Marys City, 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. Assessment notices in St. Marys City 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in St. Marys City is $3723, while the lowest median tax bill is also $3723, both in zip code 20686.
Property Tax Assessment Values Across St Marys City, Maryland
Source: Ownwell
$179,000
$350,150
$521,300
Average St Marys City Assessed Value
$288,150
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 St Marys City, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20686 | $50,450 | $133,350 | $288,150 | $367,425 | $509,750 |
Source: Ownwell
Property Tax Bills Across St Marys City, Maryland
Property tax bills in St. Mary’s County, MD, including St. Marys City, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by a county assessor and typically reflects a percentage of the property's market value. For instance, with a median home price of $288,150, homeowners can expect their property tax bills to vary significantly. Tax bills in St. Marys City range from the 25th percentile at $2,539 to the 75th percentile at $4,023, with the 90th percentile reaching as high as $5,693. The highest and lowest median tax bills in the area are both recorded at $3,723 in the 20686 zip code. Compared to the national median property tax rate of 0.99%, homeowners in St. Marys City may find their tax obligations to be relatively higher or lower depending on their specific property assessments. These tax bills can significantly impact homeowners' annual expenses, influencing decisions on property investments and long-term financial planning.
Average St Marys City Tax Bill
$3,723
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 St Marys City, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20686 | $1,736 | $2,539 | $3,723 | $4,023 | $5,693 |
Source: Ownwell