Showell, Maryland Property Taxes
The median property tax rate in Showell, MD is 0.85%, notably lower than both the national median of 0.99% and the Maryland state median of 1.06%. With the median home value in Showell, the typical annual property tax bill amounts to $1,213, which is well below the national median of $2,690. Property taxes in Showell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Showell'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 Showell or another part of Worcester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Showell, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,391
Ownwell’s SHOWELL Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in SHOWELL. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in SHOWELL to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Showell, Maryland
Property taxes in Showell, Maryland, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Showell is 0.85%, slightly below the U.S. national median of 0.99%. Local government entities within Showell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Showell 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 Showell's effective property tax rate to other areas in Worcester County and the national median. For comparison, the 21862 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these areas compare with Showell 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 Showell Tax Rate
0.85%
Average Worcester County Tax Rate
1.41%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Showell, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21862 | 0.62% | 0.77% | 0.85% | 0.89% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Showell, Maryland
In Showell, 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 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 Showell, 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 Showell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Showell are both $1,213, found in the 21862 zip code.
Average Showell Assessed Value
$163,600
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 Showell, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21862 | $85,910 | $107,600 | $163,600 | $206,925 | $260,980 |
Source: Ownwell
Property Tax Bills Across Showell, Maryland
In Showell, Worcester County, MD, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the county's assessment office, which evaluates the property's market value. Homeowners in Showell typically see a range of tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $900, while the 75th percentile tax bill reaches approximately $1763. At the 90th percentile, homeowners may pay up to $2241 annually. These tax bills can significantly impact homeowners' finances, as they represent a recurring cost that must be budgeted for each year. Compared to the national median property tax rate of 0.99%, Showell's tax bills reflect the local real estate market and county-specific tax rates. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Showell Tax Bill
$1,213
Average Worcester County Tax Bill
$2,901
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Showell, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21862 | $769 | $900 | $1,213 | $1,763 | $2,241 |
Source: Ownwell