Salisbury, Maryland Property Taxes
The median property tax rate in Salisbury, MD is 0.75%, considerably lower than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Salisbury at $242,950, the typical annual property tax bill reaches $1,793, which is significantly below the national median of $2,690. Property taxes in Salisbury 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 Salisbury'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 Salisbury 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
Salisbury, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,822
$1,691
Ownwell’s Salisbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salisbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salisbury 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 Salisbury, Maryland
Property taxes in Salisbury, Maryland, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salisbury is 0.75%, lower than both the Maryland state median and the U.S. national median of 0.99%. Local government entities within Salisbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salisbury 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 Salisbury's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21804 zip code has the highest median property tax rate of 0.75%, while the 21804 zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Salisbury provides valuable insights into the varying tax landscape across Worcester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Salisbury Tax Rate
0.75%
Average Worcester County Tax Rate
1.41%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salisbury, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21804 | 0.66% | 0.69% | 0.75% | 0.78% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Salisbury, Maryland
In Salisbury, 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 Worcester 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 Salisbury, 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. Notably, the median home price in Salisbury is $242,950. The median tax bill ranges from $1,042 at the 25th percentile to $3,246 at the 90th percentile. The highest and lowest median tax bills, both at $1,793, are found in zip code 21804. Being aware of these valuation processes in Salisbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Salisbury Assessed Value
$242,950
Average Worcester County Assessed Value
$251,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Salisbury, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21804 | $120,310 | $146,000 | $242,950 | $307,875 | $426,620 |
Source: Ownwell
Property Tax Bills Across Salisbury, Maryland
In Salisbury, located in Worcester County, MD, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Salisbury is approximately $242,950, and homeowners can expect their tax bill to reflect a percentage of this assessed value. Factors influencing the tax bill include the property's location, size, and any applicable exemptions. The property tax rate in Salisbury impacts homeowners significantly, with the 25th percentile tax bill around $1,042 and the 75th percentile reaching $2,395. For those in the 90th percentile, the tax bill can go up to $3,246 annually. These figures provide a range, illustrating how different property values and assessments can affect the final tax bill. Comparatively, the national median property tax rate is 0.99%, highlighting that Salisbury's property tax structure is competitive. Homeowners in Salisbury should be aware of these factors to understand their property tax obligations better and plan their finances accordingly.
Average Salisbury Tax Bill
$1,793
Average Worcester County Tax Bill
$2,901
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Salisbury, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21804 | $872 | $1,042 | $1,793 | $2,395 | $3,246 |
Source: Ownwell