Snow Hill, Maryland Property Taxes
The median property tax rate in Snow Hill, MD is 0.82%, which is notably lower than both the national median of 0.99% and the Maryland state median of 1.06%. With a median home value of $181,600 in Snow Hill, the typical annual property tax bill amounts to $1,755, falling below the national median of $2,690. Property taxes in Snow Hill are calculated based on the tax assessed value, which often is less than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Snow Hill's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're located in the heart of Snow Hill or another part of Worcester County, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Snow Hill, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,489
$1,382
Ownwell’s Snow Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Snow Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Snow Hill 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 Snow Hill, Maryland
Property taxes in Snow Hill, Maryland, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Snow Hill is 0.82%, lower than the U.S. national median of 0.99%. Local government entities within Snow Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Snow Hill 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 Snow Hill's effective property tax rate to other counties in Maryland and the national median. For comparison, the 21863 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with Snow Hill 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 Snow Hill Tax Rate
0.82%
Average Worcester County Tax Rate
1.41%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Snow Hill, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21863 | 0.67% | 0.74% | 0.82% | 1.35% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Snow Hill, Maryland
In Snow Hill, 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 Snow Hill, 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 Snow Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,755 in the 21863 zip code, which also has the lowest median tax bill, reflecting the uniformity in property tax assessments.
Average Snow Hill Assessed Value
$181,600
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 Snow Hill, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21863 | $91,920 | $133,900 | $181,600 | $259,000 | $348,900 |
Source: Ownwell
Property Tax Bills Across Snow Hill, Maryland
In Snow Hill, Worcester County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. For instance, the median home price in Snow Hill is $181,600. The property tax rate in this area influences the final tax bill homeowners receive. Several factors are considered when determining the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. The tax bill can vary significantly; for example, homeowners in the 25th percentile pay around $1,239, while those in the 75th percentile pay approximately $2,471. The highest median tax bill in the area is $1,755. These tax bills impact homeowners by affecting their annual expenses and potentially influencing their decisions about buying, selling, or maintaining property. Understanding these factors helps homeowners plan better for their financial responsibilities.
Average Snow Hill Tax Bill
$1,755
Average Worcester County Tax Bill
$2,901
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Snow Hill, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21863 | $862 | $1,239 | $1,755 | $2,471 | $3,656 |
Source: Ownwell