University Park, Prince George's County, Maryland Property Taxes
Median University Park, MD effective property tax rate: 1.44%, significantly higher than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median University Park, MD home value: $558,450
Median annual University Park, MD tax bill: $8,058, $5,658 higher than the national median property tax bill of $2,400.
How are property taxes in Prince George's calculated?
Property taxes in University 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 University Park’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in University Park, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
University Park, Prince George's County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.44%
Estimate Property Tax Bill
$8,042
$7,462
Property Tax Rates Across University Park, Prince George's County, Maryland
Local government entities determine tax rates, leading to significant variation within Maryland. Annually, each county calculates its necessary budget for services and divides that by the total value of all taxable property in its area, resulting in the property tax rate. Though votes and legislation play roles in setting these rates and budgets, this is the core process.
University Park in Prince George's County showcases how property tax rates can differ even within a state. Comparing University Park’s effective property tax rate to other cities in Maryland and the national median provides valuable insights. Maryland’s median property tax rate is notably higher than the national median of 1.02%. This discrepancy highlights the importance of understanding local tax dynamics. For residents and property owners, this means being aware of how these rates impact their annual tax bills, which can significantly affect their financial planning. By staying informed and considering professional property tax appeal services, property owners can ensure they are not overpaying on their property taxes.
Property Tax Rates Across University Park, Prince George's County, Maryland
Source: Ownwell
0.95%
1.38%
1.81%
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 University Park Tax Rate
1.44%
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 University Park, Prince George's County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20782 | 1.40% | 1.42% | 1.44% | 1.45% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across University Park, Prince George's County, Maryland
When examining property taxes in University 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 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 University Park. For example, the median home price in University Park is $558,450, with tax bills ranging significantly across the county. Zip code 20782 has the highest median home price at $558,450.
Property Tax Assessment Values Across University Park, Prince George's County, Maryland
Source: Ownwell
$223,000
$390,725
$558,450
Median University Park Market Value
$558,450
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 University Park, Prince George's County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20782 | $426,890 | $492,300 | $558,450 | $629,175 | $716,220 |
Source: Ownwell
Property Tax Bills Across University Park, Prince George's County, Maryland
In University Park, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local government. Factors such as the property's size, location, and market conditions are considered in this assessment. Homeowners in University Park face a median property tax bill of $8,058, significantly higher than the national median of $2,400, reflecting the area's higher home values. The tax rate in University Park is influenced by local government funding needs and public services, making it crucial for homeowners to ensure their property assessments are accurate.
Ownwell can assist homeowners in University Park by reviewing their property assessments for potential inaccuracies and filing appeals when necessary. This service can lead to substantial savings, especially for those facing tax bills in the 90th percentile, which can reach up to $10,193. By leveraging Ownwell's expertise, homeowners can navigate the complex property tax system more effectively, ensuring they are not overpaying on their property tax bills.
Property Tax Bills Across University Park, Prince George's County, Maryland
Source: Ownwell
$2,662
$5,360
$8,058
Median University Park Tax Bill
$8,058
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 University Park, Prince George's County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20782 | $6,099 | $7,122 | $8,058 | $9,014 | $10,193 |
Source: Ownwell