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College Park, Prince George's County, Maryland Property Taxes

  • Median College Park, MD effective property tax rate: 1.31%, significantly higher than the national median of 1.02%, but lower than the Maryland state median of 1.06%.

  • Median College Park, MD home value: $367,800

  • Median annual College Park, MD tax bill: $4,764, $2,364 higher than the national median property tax bill of $2,400.

How are property taxes in Prince George's County calculated?

Property taxes in College Park, 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 College Park’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in College Park, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

College Park, Prince George's County, Maryland Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.74%

Estimate Property Tax Bill

$6,318

$5,863

SAVE WITH OWNWELL

$774

Average Annual Tax Savings

Ownwell’s College Park Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in College Park with just two data points. By entering your property's estimated assessed value, our calculator applies College Park’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 more 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 Prince George's County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across College Park, Prince George's County, Maryland

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

College Park, located in Prince George's County, has a median property tax rate of 1.31%, which is significantly higher than the national median of 1.02%. This makes it one of the highest in the state, as both the highest and lowest median tax rates in Maryland are the same at 1.31%. This means homeowners in College Park may face higher property tax bills compared to other parts of the country, potentially impacting their overall cost of living. Understanding these rates can help homeowners make informed decisions about their property investments and financial planning.

Property Tax Rates Across College Park, Prince George's County, Maryland

Source: Ownwell

1.28%

1.62%

1.97%

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 College Park Tax Rate

1.74%

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 Prince George's County Tax Rate

1.44%

Median Effective Maryland Tax Rate

1.21%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across College Park, Prince George's County, Maryland

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
207401.24%1.34%1.74%1.80%1.81%

Source: Ownwell

Property Tax Assessment Values Across College Park, Prince George's County, Maryland

When examining property taxes in College Park, 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 Prince George's 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 Prince George's 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 College Park. For example, the median home price in College Park is $367,800, with tax bills ranging significantly across the county. Zip code 20740 has the highest median home price at $367,800.

Property Tax Assessment Values Across College Park, Prince George's County, Maryland

Source: Ownwell

$225,100

$461,800

$698,500

Median College Park Market Value

$363,100

Median Prince George's County Market Value

$355,500

Median Maryland Market Value

$338,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across College Park, Prince George's County, Maryland

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
20740$153,000$285,000$363,100$433,800$507,240

Source: Ownwell

Property Tax Bills Across College Park, Prince George's County, Maryland

In College Park, located in Prince George's County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. Homeowners in this area face a median property tax bill of $4,764, significantly higher than the national median of $2,400. This discrepancy is attributed to the higher median home price of $367,800 in the region. The property tax bill can vary widely, with the 25th percentile at $3,917 and the 90th percentile reaching $6,799. Factors such as property size, location, and improvements can influence the assessed value, directly impacting the tax bill. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions. By analyzing local market trends and comparable properties, Ownwell ensures that homeowners are not overpaying on their property taxes. This service can lead to substantial savings, easing the financial burden on homeowners in College Park.

Property Tax Bills Across College Park, Prince George's County, Maryland

Source: Ownwell

$3,473

$6,429

$9,385

Median College Park Tax Bill

$5,630

Median Prince George's County Tax Bill

$4,985

Median Maryland Tax Bill

$4,092

Median United States Tax Bill

$2,400

Property Tax Bills Across College Park, Prince George's County, Maryland

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
20740$2,330$4,148$5,631$7,073$8,365

Source: Ownwell

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