Fairmount Heights, Prince George's County, Maryland Property Taxes
Median Fairmount Heights, MD effective property tax rate: 1.47%, significantly higher than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median Fairmount Heights, MD home value: $269,650
Median annual Fairmount Heights, MD tax bill: $3,906, $1,506 higher than the national median property tax bill of $2,400.
How are property taxes in Prince George's calculated?
Property taxes in Fairmount Heights, 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 Fairmount Heights’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fairmount Heights, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Fairmount Heights, Prince George's County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.62%
Estimate Property Tax Bill
$5,093
$4,726
$774
Average Annual Tax Savings
Property Tax Rates Across Fairmount Heights, Prince George's County, Maryland
Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide essential services and dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Fairmount Heights, located in Prince George's County, Maryland, the effective property tax rate is 1.47%. When compared to other cities in Maryland, Fairmount Heights shares the same tax rate, which is also the highest in the state. This rate is significantly higher than the national median property tax rate of 1.02%. Despite the uniformity in tax rates within the area, Fairmount Heights' rate stands out when compared to the national average. Understanding these differences can be crucial for property owners looking to manage their tax liabilities effectively.
Property Tax Rates Across Fairmount Heights, Prince George's County, Maryland
Source: Ownwell
1.28%
1.62%
1.97%
Our median effective property tax rate (tax bill Ă· 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 Fairmount Heights Tax Rate
1.62%
Our median effective property tax rate (tax bill Ă· 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 Fairmount Heights, Prince George's County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20743 | 1.17% | 1.37% | 1.62% | 1.71% | 1.91% |
Source: Ownwell
$774
Average Annual Tax Savings
Save on Your Property Taxes and More With Ownwell
Property Tax Assessment Values Across Fairmount Heights, Prince George's County, Maryland
When examining property taxes in Fairmount Heights, 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 Fairmount Heights.
For example, the median home price in Fairmount Heights is $269,650, with tax bills ranging significantly across the county. Zip code 20743 has the highest median home price at $269,650.
Property Tax Assessment Values Across Fairmount Heights, Prince George's County, Maryland
Source: Ownwell
$225,100
$461,800
$698,500
Median Fairmount Heights Market Value
$314,400
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 Fairmount Heights, Prince George's County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20743 | $90,280 | $252,200 | $314,400 | $368,500 | $433,880 |
Source: Ownwell
$774
Average Annual Tax Savings
Save on Your Property Taxes and More With Ownwell
Property Tax Bills Across Fairmount Heights, Prince George's County, Maryland
In Fairmount Heights, located in Prince George's County, MD, property tax bills are determined by the assessed value of a home and the local tax rate. The median home price is $269,650, and homeowners here encounter a median property tax bill of $3,906, significantly higher than the national median of $2,400. This discrepancy highlights the financial burden on residents. Factors such as home improvements, neighborhood developments, and changes in local government budgets can influence assessed values, impacting the final tax bill. For homeowners, this means staying informed about these factors is crucial to anticipate and manage tax expenses effectively.
Ownwell offers valuable assistance to homeowners by providing expert property tax appeal services. By analyzing your property's assessed value and comparing it with similar properties, Ownwell can identify discrepancies and potential savings. Their expertise ensures homeowners pay only their fair share, potentially saving hundreds or even thousands annually. With Ownwell's support, navigating the complexities of property taxes becomes a manageable task, easing the financial strain on homeowners in Fairmount Heights.
Property Tax Bills Across Fairmount Heights, Prince George's County, Maryland
Source: Ownwell
$3,473
$6,429
$9,385
Median Fairmount Heights Tax Bill
$4,687
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 Fairmount Heights, Prince George's County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20743 | $1,191 | $3,648 | $4,687 | $5,782 | $6,774 |
Source: Ownwell
$774
Average Annual Tax Savings
Save on Your Property Taxes and More With Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | February 13 |
Links | |
|---|---|
| Prince George's Tax Assessor | |
| Website | sdat.dat.maryland.gov |
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