Kensington, Montgomery County, Maryland Property Taxes

Local government entities set tax rates, which can vary widely within a state. 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.

Kensington in Montgomery County, MD, has an effective property tax rate that reflects the county's approach to budgeting and service provision. When comparing Kensington's rate to other cities in Maryland and the median property tax rates in Maryland and the U.S., Kensington aligns closely with the state's median rate. This is noteworthy considering the national median property tax rate is slightly lower. For property owners in Kensington, understanding how these rates are determined and how they compare nationally and statewide can provide valuable insights into their annual tax obligations.

In Kensington, Maryland, property tax bills are determined by assessing the market value of a home and applying the local tax rate. Montgomery County, where Kensington is located, has a median property tax bill of $6,797, significantly higher than the national median of $2,400. This discrepancy is due to both the high median home price of $581,100 and the county's tax rate. Factors such as home improvements, neighborhood changes, and market conditions can influence assessed values, impacting the final tax bill. For homeowners, this can mean a substantial financial burden, especially when local tax rates and home values rise.

Ownwell assists homeowners in Kensington by providing expert property tax appeal services. By analyzing property assessments and identifying discrepancies, Ownwell can help reduce over-assessed values, potentially lowering tax bills. With their guidance, homeowners can navigate the complexities of property taxes, ensuring they pay only their fair share. This service is particularly valuable in areas like Kensington, where property taxes are significantly above the national average.