Property Taxes in Oldtown, Maryland
Median Oldtown, Maryland effective property tax rate: 1.09%, significantly lower than the national median of 1.02%, and lower than the Maryland state median of 1.21%.
Median Oldtown, Maryland home value: $112,200
Median annual Oldtown, Maryland tax bill: $1,172, lower than the national median property tax bill of $2,400.
How are property taxes in Allegany calculated?
Property taxes in Oldtown, Maryland 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 April 13, 2026
How Does the Oldtown Property Tax Calculator Work?
Use this Oldtown property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Oldtown's median effective tax rate of 1.09% — based on actual property records in Allegany County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment office uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Oldtown's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Oldtown: rates range from 1.09% in 21555 to 1.09% in 21555, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Oldtown.
About Oldtown Property Taxes
About Property Taxes in Oldtown, Allegany, Maryland
Oldtown’s median effective property tax rate of 1.09% is lower than the Maryland state median of 1.21% and higher than the national median of 1.02%. This rate reflects the Allegany County base levy combined with local school district levies and special taxing districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Oldtown. Homeowners in the 21555 ZIP code carry a median effective rate of 1.09%, while those in the same ZIP code also pay 1.09%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Allegany County. Understanding which part of Oldtown you live in can make a meaningful difference to your annual tax bill.
Oldtown homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the February 13, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Oldtown, Allegany County, Maryland
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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.
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
1.09%
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
1.03%
Median Effective Maryland Tax Rate
1.21%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Oldtown, Allegany County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21555 | 1.05% | 1.09% | 1.09% | 1.09% | 1.09% |
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.
Assessment notices:
In Allegany County, assessment notices are sent in December each year. They'll typically reach your mailbox by the middle of December.
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. For example, the median home price in Oldtown is $112,200, with tax bills ranging significantly across the county. 21555 has the highest median home price at $112,200.
Property Tax Assessment Values Across Oldtown, Allegany County, Maryland
Source: Ownwell
$28,400
$110,050
$191,700
Median Oldtown Market Value
$112,200
Median Allegany County Market Value
$113,750
Median Maryland Market Value
$338,400
Median United States Market Value
$274,101
Property Tax Assessment Values Across Oldtown, Allegany County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21555 | $45,350 | $69,225 | $112,200 | $165,575 | $235,200 |
Source: Ownwell
Property Tax Bills Across Oldtown, Allegany County, Maryland
Oldtown property tax bills are based on the assessed value of a home and the local tax rate set by the county and other taxing authorities. For homeowners in Oldtown, the median home price is $112,200, and that value is used to help determine how much tax is owed each year. The final bill can vary depending on the property’s assessed market value, any exemptions that apply, and the specific rates in place for the area.
For many homeowners, the tax bill is a meaningful part of annual housing costs. In Oldtown, the median property tax bill is $1,172, with bills ranging from $728 at the 25th percentile to $1,738 at the 75th percentile and $2,376 at the 90th percentile. That means some homeowners pay well below the national median property tax bill of $2,400, while others may pay close to it.
Median Oldtown Tax Bill
$1,172
Median Allegany County Tax Bill
$1,116
Median Maryland Tax Bill
$4,092
Median United States Tax Bill
$3,209
Property Tax Bills Across Oldtown, Allegany County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21555 | $471 | $728 | $1,172 | $1,738 | $2,376 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | February 13 |
Links | |
|---|---|
| Allegany Tax Assessor | |
| Website | sdat.dat.maryland.gov |