Property Taxes in Princess Anne, Maryland
Median Princess Anne, Maryland effective property tax rate: 0.86%, significantly lower than the national median of 1.02%, and lower than the Maryland state median of 1.21%.
Median Princess Anne, Maryland home value: $172,900
Median annual Princess Anne, Maryland tax bill: $1,453, $947 lower than the national median property tax bill of $2,400.
How are property taxes in Somerset calculated?
Property taxes in Princess Anne, Maryland 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 Princess Anne's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Princess Anne, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Princess Anne Property Tax Calculator Work?
Use this Princess Anne property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Princess Anne's median effective tax rate of 0.86% — based on actual property records in Somerset County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Princess Anne's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Princess Anne: rates range from 0.86% in 21853 to 0.86% in 21853, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Princess Anne.
About Princess Anne Property Taxes
About Property Taxes in Princess Anne, Somerset, Maryland
Princess Anne's median effective property tax rate of 0.86% is lower than the Maryland state median of 1.21% and lower than the national median of 1.02%. This rate reflects the Somerset County base levy combined with local school district levies and special taxing districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Princess Anne. Homeowners in the 21853 ZIP code carry a median effective rate of 0.86%, while those in 21853 pay 0.86%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Somerset County. Understanding which part of Princess Anne you live in can make a meaningful difference to your annual tax bill.
Princess Anne homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the February 13, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Princess Anne, Somerset County, Maryland
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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 Princess Anne's effective property tax rate to other cities in Maryland and the median property tax rates in Maryland and the U.S.
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 Princess Anne Tax Rate
0.86%
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 Somerset County Tax Rate
0.95%
Median Effective Maryland Tax Rate
1.21%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Princess Anne, Somerset County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21853 | 0.71% | 0.80% | 0.86% | 0.91% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Princess Anne, Somerset County, Maryland
When examining property taxes in Princess Anne, Maryland, 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 Somerset County assessment office 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.
Assessment notices: In Somerset County, assessment notices are sent in the spring each year, typically by the middle of December.
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. The median home price in Princess Anne is $172,900, with tax bills ranging from $938 at the 25th percentile to $3,037 at the 90th percentile. The median tax bill is $1,453, compared with the national median property tax rate of 1.02% and the national median property tax bill of $2,400.
Property Tax Assessment Values Across Princess Anne, Somerset County, Maryland
Source: Ownwell
$50,700
$111,800
$172,900
Median Princess Anne Market Value
$172,900
Median Somerset County Market Value
$142,700
Median Maryland Market Value
$338,400
Median United States Market Value
$274,101
Property Tax Assessment Values Across Princess Anne, Somerset County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21853 | $70,840 | $111,800 | $172,900 | $240,300 | $355,940 |
Source: Ownwell
Property Tax Bills Across Princess Anne, Somerset County, Maryland
Property tax bills in Princess Anne are based on the assessed value of a home and the local tax rate set by Somerset County and other taxing authorities. For a home with a median market value of $172,900, the bill can vary widely depending on how the property is assessed and whether any exemptions apply.
The typical property tax bill in the area is $1,453, which is below the national median property tax bill of $2,400 and also lower than the national median property tax rate of 1.02%. Bills at the 25th percentile are $938, while the 75th percentile reaches $2,047 and the 90th percentile climbs to $3,037.
These differences matter for homeowners because a higher assessed value usually means a higher tax bill, even if two homes are similar in size. Understanding how your property is assessed can help you see why your bill is what it is.
Median Princess Anne Tax Bill
$1,453
Median Somerset County Tax Bill
$1,326
Median Maryland Tax Bill
$4,092
Median United States Tax Bill
$3,209
Property Tax Bills Across Princess Anne, Somerset County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21853 | $602 | $938 | $1,453 | $2,047 | $3,037 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | February 13 |
Links | |
|---|---|
| Somerset Tax Assessor | |
| Website | sdat.dat.maryland.gov |