Tilghman, Talbot County, Maryland Property Taxes
Median Tilghman, MD effective property tax rate: 0.75%, significantly lower than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median Tilghman, MD home value: $307,300
Median annual Tilghman, MD tax bill: $2,124, $276 lower than the national median property tax bill of $2,400.
How are property taxes in Talbot calculated?
Property taxes in Tilghman, 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 Tilghman’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tilghman, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Tilghman, Talbot County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.75%
Estimate Property Tax Bill
$2,305
$2,139
Property Tax Rates Across Tilghman, Talbot County, Maryland
Local government entities are responsible for setting property tax rates, which can vary significantly within a state. Each county estimates the budget needed to provide essential services and divides this by the total value of all taxable property in the area. This calculation determines the property tax rate. While setting tax rates and budgets involves votes and laws, this is the core of the annual process.
In Tilghman, located in Talbot County, Maryland, the effective property tax rate is a critical factor for homeowners to consider. Comparing Tilghman’s rate to other cities within Maryland can provide valuable insights. Maryland's median property tax rate is notably lower than the national median of 1.02%. This makes it an attractive option for property owners seeking lower tax obligations. The highest and lowest median tax rates in the area are consistent, indicating a stable tax environment.
Understanding these rates can help homeowners make informed decisions about appealing property taxes or seeking exemptions. By comparing local rates to state and national averages, property owners can better evaluate their tax situation and explore potential savings.
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 Tilghman Tax Rate
0.75%
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 Talbot County Tax Rate
0.71%
Median Effective Maryland Tax Rate
1.06%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Tilghman, Talbot County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21671 | 0.41% | 0.65% | 0.75% | 0.78% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Tilghman, Talbot County, Maryland
When examining property taxes in Tilghman, 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 Talbot 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 Talbot 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 Tilghman. For example, the median home price in Tilghman is $307,300, with tax bills ranging significantly across the county. Zip code 21671 has the highest median home price at $307,300.
Property Tax Assessment Values Across Tilghman, Talbot County, Maryland
Source: Ownwell
$206,450
$473,525
$740,600
Median Tilghman Market Value
$307,300
Median Talbot County Market Value
$319,650
Median Maryland Market Value
$317,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Tilghman, Talbot County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21671 | $131,480 | $183,000 | $307,300 | $499,700 | $678,920 |
Source: Ownwell
Property Tax Bills Across Tilghman, Talbot County, Maryland
In Tilghman, located in Talbot County, MD, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in this area is $307,300. Homeowners in Tilghman can expect property tax bills that vary significantly, from the 25th percentile at $1,180 to the 90th percentile at $5,066. The highest and lowest median tax bills in the area both stand at $2,124, which is slightly below the national median property tax bill of $2,400. These tax bills are influenced by factors such as changes in the assessed value of the property and local tax rates.
Ownwell assists homeowners by providing expert property tax appeal services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can help ensure that homeowners are not overpaying on their taxes. This can lead to significant savings, especially for those who find themselves at the higher end of the tax bill spectrum.
Median Tilghman Tax Bill
$2,124
Median Talbot County Tax Bill
$2,231
Median Maryland Tax Bill
$3,419
Median United States Tax Bill
$2,400
Property Tax Bills Across Tilghman, Talbot County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21671 | $794 | $1,180 | $2,124 | $3,626 | $5,066 |
Source: Ownwell