Chevy Chase, Montgomery County, Maryland Property Taxes

Name: Property Tax Bills Across Chevy Chase, Montgomery County, Maryland
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Chevy Chase, MD effective property tax rate: 1.06%, slightly higher than the national median of 1.02%, but matching the Maryland state median of 1.06%. Median Chevy Chase, MD home value: $1,118,200. Median annual Chevy Chase, MD tax bill: $11,305, $8,905 higher than the national median property tax bill of $2,400. How are property taxes in Montgomery County calculated? Property taxes in Chevy Chase, 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 Chevy Chase’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Chevy Chase, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Chevy Chase, Montgomery County, Maryland Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.06%

Estimate Property Tax Bill

$11,853

$10,999

Ownwell’s Chevy Chase Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Chevy Chase with just two data points.

By entering your property's estimated assessed value, our calculator applies Chevy Chase’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Montgomery County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Chevy Chase, Montgomery County, Maryland

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 Chevy Chase’s effective property tax rate to other cities in Maryland and the median property tax rates in Maryland and the U.S.

Chevy Chase, located in Montgomery County, Maryland, has a median property tax rate of 1.06%, slightly above the national median of 1.02%. This rate is consistent across the region, reflecting the highest and lowest median tax rates in the area. The median property tax bill in Chevy Chase is notably higher than the national median, highlighting the area's higher property values and the county's budgetary needs. Understanding these rates and how they are determined can empower property owners to make informed decisions about their tax liabilities and potential appeals.

Property Tax Rates Across Chevy Chase, Montgomery County, Maryland

Source: Ownwell

1.00%

1.31%

1.61%

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 Chevy Chase Tax Rate

1.06%

Median Effective Montgomery County Tax Rate

1.11%

Median Effective Maryland Tax Rate

1.06%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Chevy Chase, Montgomery County, Maryland

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
20815	0.87%	0.97%	1.06%	1.14%	1.20%

Source: Ownwell

Property Tax Assessment Values Across Chevy Chase, Montgomery County, Maryland

When examining property taxes in Chevy Chase, MD, 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 Montgomery 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 Montgomery 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 Chevy Chase. For example, the median home price in Chevy Chase is $1,118,200, with tax bills ranging significantly across the county. Zip code 20815 has the highest median home price at $1,118,200.

Property Tax Assessment Values Across Chevy Chase, Montgomery County, Maryland

Source: Ownwell

$110,000

$614,100

$1,118,200

Median Chevy Chase Market Value

$1,118,200

Median Montgomery County Market Value

$471,000

Median Maryland Market Value

$317,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Chevy Chase, Montgomery County, Maryland

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
20815	$315,000	$694,550	$1,118,200	$1,555,825	$2,139,400

Source: Ownwell

Property Tax Bills Across Chevy Chase, Montgomery County, Maryland

In Chevy Chase, Montgomery County, MD, property tax bills are determined by applying the local tax rate to the assessed value of a home. This assessment reflects the market value, which can fluctuate based on real estate trends. Homeowners in Chevy Chase face a median property tax bill of $11,305, significantly above the national median of $2,400. This high tax bill can be attributed to the area's substantial median home price of $1,118,200. Factors such as location, property size, and market conditions play a crucial role in determining the assessed value, and consequently, the tax bill. Ownwell assists homeowners by conducting a thorough analysis of their property tax assessments to identify potential inaccuracies or overvaluations. By filing appeals and seeking exemptions, Ownwell helps reduce the financial burden on homeowners, ensuring they pay only their fair share. With expertise in navigating the complexities of property taxes, Ownwell empowers homeowners in Chevy Chase to achieve significant savings on their tax bills.

Property Tax Bills Across Chevy Chase, Montgomery County, Maryland

Source: Ownwell

$1,180

$6,981

$12,781

Median Chevy Chase Tax Bill

$11,305

Median Montgomery County Tax Bill

$5,416

Median Maryland Tax Bill

$3,419

Median United States Tax Bill

$2,400

Property Tax Bills Across Chevy Chase, Montgomery County, Maryland

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
20815	$3,219	$6,882	$11,305	$15,933	$22,221

Source: Ownwell