Lanham, Prince George's County, Maryland Property Taxes
Median Lanham, MD effective property tax rate: 1.11%, significantly higher than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median Lanham, MD home value: $347,300
Median annual Lanham, MD tax bill: $3,782, $1,382 higher than the national median property tax bill of $2,400.
How are property taxes in Prince George's County calculated?
Property taxes in Lanham, 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 Lanham’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lanham, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lanham, Prince George's County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.11%
Estimate Property Tax Bill
$3,855
$3,577
Property Tax Rates Across Lanham, Prince George's County, Maryland
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 Lanham Tax Rate
1.11%
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
1.11%
Median Effective Maryland Tax Rate
1.06%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lanham, Prince George's County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20706 | 0.96% | 1.03% | 1.11% | 1.11% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Lanham, Prince George's County, Maryland
When examining property taxes in Lanham, 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. Prince George's County 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 March. 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 Lanham. For example, the median home price in Lanham is $347,300, with tax bills ranging significantly across the county. Zip code 20706 has the highest median home price at $347,300.
Property Tax Assessment Values Across Lanham, Prince George's County, Maryland
Source: Ownwell
$223,000
$390,725
$558,450
Median Lanham Market Value
$347,300
Median Prince George's County Market Value
$345,300
Median Maryland Market Value
$317,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lanham, Prince George's County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20706 | $265,100 | $301,900 | $347,300 | $407,100 | $488,430 |
Source: Ownwell
Property Tax Bills Across Lanham, Prince George's County, Maryland
In Lanham, located in Prince George's County, MD, property tax bills are calculated based on the assessed value of a home. The county assesses properties to determine their value, and the tax rate is applied to this assessed value to calculate the tax bill. With a median home price of $347,300, the median property tax bill in Lanham is notably higher than the national median, reaching $3,782. This is largely due to the area's property tax rate and assessed property values. Homeowners in Lanham face tax bills that range from $3,300 at the 25th percentile to $5,240 at the 90th percentile.
Factors such as changes in market conditions or improvements to the property can influence the assessed value and, consequently, the tax bill. Homeowners may find these bills burdensome, but Ownwell can assist by providing property tax appeal services to ensure their assessments are fair. By reviewing and challenging inaccurate assessments, Ownwell helps homeowners potentially lower their property tax bills, offering significant savings and peace of mind.
Median Lanham Tax Bill
$3,782
Median Prince George's County Tax Bill
$3,870
Median Maryland Tax Bill
$3,419
Median United States Tax Bill
$2,400
Property Tax Bills Across Lanham, Prince George's County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20706 | $2,989 | $3,300 | $3,782 | $4,344 | $5,240 |
Source: Ownwell