Oldtown, Allegany County, Maryland Property Taxes
Median Oldtown, MD effective property tax rate: 1.05%, significantly higher than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median Oldtown, MD home value: $111,500
Median annual Oldtown, MD tax bill: $1,123, $1,277 lower than the national median property tax bill of $2,400.
How are property taxes in Allegany calculated?
Property taxes in Oldtown, MD are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Oldtown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oldtown, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oldtown, Allegany County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.05%
Estimate Property Tax Bill
$1,171
$1,086
Property Tax Rates Across Oldtown, Allegany County, Maryland
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Oldtown’s effective property tax rate to other cities in Maryland and the median property tax rates in Maryland and the U.S.
Oldtown in Allegany County, Maryland, has a median property tax rate of 1.05%, which is slightly above the national median of 1.02%. This rate reflects the county's budgetary needs and the total assessed value of properties within the jurisdiction. Compared to other areas, Maryland's rate is relatively consistent, with Oldtown's rate aligning with both the highest and lowest median rates in the state. Understanding these local variations can help property owners make informed decisions about their investments and potential tax liabilities.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Oldtown Tax Rate
1.05%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Allegany County Tax Rate
0.93%
Median Effective Maryland Tax Rate
1.06%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Oldtown, Allegany County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21555 | 1.00% | 1.03% | 1.05% | 1.06% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Oldtown, Allegany County, Maryland
When examining property taxes in Oldtown, Maryland, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Allegany County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Allegany County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Oldtown.
For example, the median home price in Oldtown is $111,500, with tax bills ranging significantly across the county. ZIP code 21555 has the highest median home price at $111,500.
Property Tax Assessment Values Across Oldtown, Allegany County, Maryland
Source: Ownwell
$28,400
$110,225
$192,050
Median Oldtown Market Value
$111,500
Median Allegany County Market Value
$102,400
Median Maryland Market Value
$317,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Oldtown, Allegany County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21555 | $44,380 | $69,000 | $111,500 | $164,050 | $229,720 |
Source: Ownwell
Property Tax Bills Across Oldtown, Allegany County, Maryland
Median Oldtown Tax Bill
$1,123
Median Allegany County Tax Bill
$978
Median Maryland Tax Bill
$3,419
Median United States Tax Bill
$2,400
Property Tax Bills Across Oldtown, Allegany County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21555 | $452 | $691 | $1,123 | $1,680 | $2,288 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Allegany Tax Assessor | |
| Website | sdat.dat.maryland.gov |