Spencerville, Montgomery County, Maryland Property Taxes
Median Spencerville, MD effective property tax rate: 1.15%, significantly higher than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median Spencerville, MD home value: $518,400
Median annual Spencerville, MD tax bill: $6,118, $3,718 higher than the national median property tax bill of $2,400.
How are property taxes in Montgomery calculated?
Property taxes in Spencerville, 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 Spencerville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Spencerville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Spencerville, Montgomery County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.1%
Estimate Property Tax Bill
$7,273
$6,749
Ownwell’s Spencerville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Spencerville with just two data points. By entering your property's estimated assessed value, our calculator applies Spencerville’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 Spencerville, Montgomery County, Maryland
Local government entities determine tax rates, which can significantly differ within a state. This variation is due to each county's annual budget estimation process. Counties calculate their required budget to provide essential services and divide it by the total value of all taxable property within their jurisdiction. This calculation establishes the property tax rate. Although setting tax rates and budgets involves votes and laws, this is the fundamental annual process.
In Spencerville, located in Montgomery County, MD, the effective property tax rate can be compared to other cities in Maryland and the median property tax rates in both the state and the U.S. Maryland's median property tax rate stands at 1.15%, slightly above the national median of 1.02%. This comparison highlights how Spencerville's property tax rate aligns with state and national trends. Understanding these figures can help property owners in Spencerville make informed decisions about their property tax appeals and exemptions, ensuring they are not overpaying compared to their peers.
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 Spencerville Tax Rate
1.10%
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 Montgomery County Tax Rate
1.19%
Median Effective Maryland Tax Rate
1.21%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Spencerville, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20868 | 1.01% | 1.05% | 1.10% | 1.15% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Spencerville, Montgomery County, Maryland
When examining property taxes in Spencerville, 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 Spencerville. For example, the median home price in Spencerville is $518,400, with tax bills ranging significantly across the county. 20868 has the highest median home price at $518,400.
Property Tax Assessment Values Across Spencerville, Montgomery County, Maryland
Source: Ownwell
$110,000
$614,075
$1,118,150
Median Spencerville Market Value
$661,200
Median Montgomery County Market Value
$520,100
Median Maryland Market Value
$338,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Spencerville, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20868 | $396,760 | $479,150 | $661,200 | $899,100 | $1,195,320 |
Source: Ownwell
Property Tax Bills Across Spencerville, Montgomery County, Maryland
Property Tax Bills Across Spencerville, Montgomery County, Maryland
Source: Ownwell
$1,261
$7,418
$13,575
Median Spencerville Tax Bill
$7,171
Median Montgomery County Tax Bill
$6,208
Median Maryland Tax Bill
$4,092
Median United States Tax Bill
$2,400
Property Tax Bills Across Spencerville, Montgomery County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20868 | $4,580 | $5,346 | $7,171 | $9,493 | $12,746 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
|---|
Links | |
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| Montgomery Tax Assessor | |
| Website | sdat.dat.maryland.gov |