Sharpsburg, Maryland Property Taxes
The median property tax rate in Sharpsburg, MD is 1.04%, slightly higher than the national median of 0.99% but just below the Maryland state median of 1.06%. With the median home value in Sharpsburg at $199,900, the typical annual property tax bill is around $2,036, which is lower than the national median of $2,690. Property taxes in Sharpsburg are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Sharpsburg'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 Sharpsburg 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
Sharpsburg, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,079
$1,929
Ownwell’s Sharpsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sharpsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sharpsburg 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 Sharpsburg, Maryland
Property taxes in Sharpsburg, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sharpsburg is 1.04%, higher than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Sharpsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sharpsburg 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 Sharpsburg's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21782 zip code has both the highest and lowest median property tax rate of 1.04%. Understanding how these areas compare with Sharpsburg provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sharpsburg Tax Rate
1.04%
Average Washington County Tax Rate
0.92%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sharpsburg, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21782 | 0.92% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Sharpsburg, Maryland
In Sharpsburg, 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 Washington County Assessment Office 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 Sharpsburg, 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 Sharpsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 21782 at $2,036, while the lowest is also 21782 at $2,036.
Average Sharpsburg Assessed Value
$199,900
Average Washington County Assessed Value
$219,600
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sharpsburg, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21782 | $99,600 | $140,000 | $199,900 | $271,050 | $344,100 |
Source: Ownwell
Property Tax Bills Across Sharpsburg, Maryland
In Sharpsburg, Washington County, MD, property tax bills are calculated based on the assessed value of a home. The local government determines the assessed value, which is typically a percentage of the property's market value. Homeowners in Sharpsburg face varied tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is $1,406, while the 75th percentile tax bill reaches $2,756. At the higher end, the 90th percentile tax bill can be as much as $3,508. The median home price in Sharpsburg stands at $199,900, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, the local rates can significantly impact homeowners, particularly those with higher-valued properties. The highest and lowest median tax bills in the area are both $2,036, indicating a level of consistency within the zip code 21782. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Sharpsburg Tax Bill
$2,036
Average Washington County Tax Bill
$1,934
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Sharpsburg, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21782 | $1,013 | $1,406 | $2,036 | $2,756 | $3,508 |
Source: Ownwell