Williamsport, Maryland Property Taxes
The median property tax rate in Williamsport, MD is 0.97%, slightly below the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Williamsport, the typical annual property tax bill reaches $2,070, which is lower than the national median of $2,690. Property taxes in Williamsport 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 Williamsport'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 Williamsport 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
Williamsport, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$2,148
Ownwell’s Williamsport Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Williamsport using just two key data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamsport to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan your finances better. For those interested in more granular insights, you can scroll down to find localized information at the neighborhood level. Your property’s assessed value, determined by Washington County, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Williamsport, Maryland
Property taxes in Williamsport, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamsport is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within Williamsport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamsport 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 Williamsport's effective property tax rate to other areas in Washington County and the national median. For comparison, the zip code 21795 has both the highest and the lowest median property tax rate of 0.97%. Understanding how these areas compare with Williamsport 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 Williamsport Tax Rate
0.97%
Average Washington County Tax Rate
0.92%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williamsport, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21795 | 0.81% | 0.87% | 0.97% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Williamsport, Maryland
In Williamsport, 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 Williamsport, 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 Williamsport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,070, found in zip code 21795.
Average Williamsport Assessed Value
$221,400
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 Williamsport, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21795 | $105,400 | $153,700 | $221,400 | $307,100 | $396,860 |
Source: Ownwell
Property Tax Bills Across Williamsport, Maryland
In Williamsport, MD, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, the median home price in Williamsport is $221,400. Homeowners in the 25th percentile can expect a tax bill around $1,475, while those in the 75th percentile might see a bill closer to $2,789. At the 90th percentile, tax bills can reach up to $3,737. This range highlights how property values and the corresponding tax rates can significantly impact a homeowner's annual expenses. The highest and lowest median tax bills in the area both stand at $2,070, indicating some uniformity within the zip code 21795. Compared to the national median property tax rate of 0.99%, Williamsport's rates can be seen as relatively moderate, but the exact financial impact will depend on the specific assessed value of each property.
Average Williamsport Tax Bill
$2,070
Average Washington County Tax Bill
$1,934
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamsport, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21795 | $1,032 | $1,475 | $2,070 | $2,789 | $3,737 |
Source: Ownwell