Funkstown, Washington County, Maryland Property Taxes
Median Funkstown, MD effective property tax rate: 0.87%, significantly lower than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median Funkstown, MD home value: $158,850
Median annual Funkstown, MD tax bill: $1,323, $1,077 lower than the national median property tax bill of $2,400.
How are property taxes in Washington calculated?
Property taxes in Funkstown, 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 Funkstown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Funkstown, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Funkstown, Washington County, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.87%
Estimate Property Tax Bill
$1,382
$1,282
Property Tax Rates Across Funkstown, Washington County, Maryland
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually 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.
In Funkstown, located in Washington County, MD, the effective property tax rate is 0.87%. This rate is below the national median property tax rate of 1.02%, offering a more affordable option for property owners. The median property tax rate in Maryland is also 0.87%, aligning with Funkstown's rate. When compared to the national median property tax bill of $2,400, Funkstown's property tax scenario presents a potentially lower financial burden for homeowners.
Although property tax rates can differ significantly across various regions, Funkstown's rate provides a competitive edge, especially for those seeking a balance between quality public services and manageable tax expenses.
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 Funkstown Tax Rate
0.87%
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 Washington County Tax Rate
0.92%
Median Effective Maryland Tax Rate
1.06%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Funkstown, Washington County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21734 | 0.74% | 0.82% | 0.87% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Funkstown, Washington County, Maryland
When examining property taxes in Funkstown, 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 Washington 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 Washington County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Funkstown. For example, the median home price in Funkstown is $158,850, with tax bills ranging significantly across the county. Zip code 21734 has the highest median home price at $158,850.
Property Tax Assessment Values Across Funkstown, Washington County, Maryland
Source: Ownwell
$99,000
$213,775
$328,550
Median Funkstown Market Value
$158,850
Median Washington County Market Value
$219,600
Median Maryland Market Value
$317,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Funkstown, Washington County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21734 | $107,300 | $129,550 | $158,850 | $198,500 | $245,850 |
Source: Ownwell
Property Tax Bills Across Funkstown, Washington County, Maryland
In Funkstown, Maryland, property tax bills are determined by applying the local tax rate to the assessed value of a property. The median home price in this area is $158,850, with homeowners typically facing tax bills between the 25th percentile of $1,117 and the 90th percentile of $2,037. This range is slightly below the national median property tax bill of $2,400, offering some relief to local homeowners. The tax rate in Funkstown is influenced by various factors, including property location, market conditions, and local government budgets. These elements play a crucial role in determining the final tax bill, directly impacting homeowners' financial obligations.
Ownwell provides valuable assistance to homeowners by offering property tax appeal and exemption services. By working with local experts, Ownwell helps homeowners identify potential savings and reduce their tax burden. This personalized approach ensures that homeowners pay only their fair share, allowing them to allocate resources more efficiently and potentially save a significant amount on their annual property tax bills.
Median Funkstown Tax Bill
$1,323
Median Washington County Tax Bill
$1,934
Median Maryland Tax Bill
$3,419
Median United States Tax Bill
$2,400
Property Tax Bills Across Funkstown, Washington County, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21734 | $968 | $1,117 | $1,323 | $1,565 | $2,037 |
Source: Ownwell