Frederick, Frederick County, Maryland Property Taxes

Local government entities set tax rates, which can vary widely within Maryland. 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 Frederick’s effective property tax rate to other cities in Maryland and the median property tax rates in Maryland and the U.S.

Frederick County has a median property tax rate of 1.33%, which is notably higher than the national median of 1.02%. Within Frederick, the highest median tax rate is 1.43% in the 21701 zip code, while the lowest is 1.19% in the 21703 zip code. This variation highlights the importance of understanding local tax rates when considering property investments or homeownership. Comparing these rates to the national median property tax bill of $2,400 underscores the potential financial implications for property owners in Frederick. Understanding these differences can be crucial for making informed decisions about property investments and financial planning.

In Frederick, MD, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Frederick is $350,600, and homeowners face a median property tax bill that often surpasses the national median of $2,400. For instance, the tax bill at the 25th percentile is $3,442, indicating that a significant portion of homeowners pay more than the national average. Factors influencing the tax bill include the location and market value of the property, with the highest median tax bill observed in zip code 21704 at $6,216. The assessed value is crucial, as it directly impacts the tax bill, which can affect homeowners' finances significantly.

Ownwell can assist homeowners in Frederick by identifying potential savings on their property tax bills. By analyzing property assessments and market conditions, Ownwell helps ensure that homeowners are not overpaying. Through effective property tax appeals and exemption services, Ownwell can help reduce the financial burden on homeowners, potentially leading to substantial savings.