Barnesville, Montgomery County, Maryland Property Taxes

Local government entities in Maryland set tax rates, which can vary widely within the state. This variation arises because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the fundamental annual process.

In Barnesville, located in Montgomery County, the effective property tax rate aligns with the highest and lowest median tax rates in the state, both at 1.07%. This rate is slightly above the national median property tax rate of 1.02%. Despite this, the property tax bill in Barnesville may still be competitive when compared to the national median property tax bill of $2,400, depending on property values in the area. Understanding these rates is crucial for property owners looking to manage their expenses effectively. By comparing Barnesville’s property tax rate to those of other cities in Maryland and the U.S., homeowners can gain valuable insights into their tax obligations and potential savings.

In Barnesville, Montgomery County, MD, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The median home price in the area is $495,150, which influences the tax bill alongside the county's tax rate. Homeowners in Barnesville face a median property tax bill of $5,251, notably higher than the national median of $2,400. The tax bill can vary significantly, with the 25th percentile at $3,732 and the 75th percentile reaching $6,499, while the top 10% of homeowners pay up to $9,414. Such variations are due to differences in property values and tax rates within the area.

Ownwell assists homeowners in reducing their property tax bills by providing expert property tax appeal services. Our team reviews your property's assessed value, identifies discrepancies, and files appeals to ensure you're not overpaying. By leveraging our expertise, homeowners can potentially save hundreds or even thousands of dollars, easing the financial burden of high property taxes.