Hancock, Washington County, Maryland Property Taxes

Name: Property Tax Bills Across Hancock, Washington County, Maryland
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Hancock, MD effective property tax rate: 1.04%, slightly higher than the national median of 1.02%, but lower than the Maryland state median of 1.06%.
Median Hancock, MD home value: $124,700
Median annual Hancock, MD tax bill: $1,236, $1,164 lower than the national median property tax bill of $2,400.

How are property taxes in Washington County calculated?

Property taxes in Hancock, 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 Hancock’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hancock, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Hancock, Washington County, Maryland Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.04%

Estimate Property Tax Bill

$1,297

$1,203

Ownwell’s Hancock Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hancock with just two data points.

By entering your property's estimated assessed value, our calculator applies Hancock’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Washington County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hancock, Washington County, Maryland

Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While the process involves votes and laws, this annual calculation is the essence of how tax rates are set.

In Hancock, located in Washington County, Maryland, the effective property tax rate is 1.04%. This rate is slightly above the national median property tax rate of 1.02%. Interestingly, Hancock's tax rate is also the highest and lowest within the county, as it stands alone with a uniform rate. When compared to the median property tax bill nationwide, which is $2,400, Hancock's rate aligns closely, ensuring residents are not overburdened when compared to the national average. Understanding these rates can help property owners make informed decisions about appealing their property taxes or seeking exemptions.

Property Tax Rates Across Hancock, Washington County, Maryland

Source: Ownwell

0.81%

0.92%

1.04%

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 Hancock Tax Rate

1.04%

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 Hancock, Washington County, Maryland

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
21750	0.92%	0.92%	1.04%	1.04%	1.04%

Source: Ownwell

Property Tax Assessment Values Across Hancock, Washington County, Maryland

When examining property taxes in Hancock, 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 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 Hancock.

For example, the median home price in Hancock is $124,700, with tax bills ranging significantly across the county. ZIP code 21750 has the highest median home price at $124,700.

Property Tax Assessment Values Across Hancock, Washington County, Maryland

Source: Ownwell

$99,000

$213,775

$328,550

Median Hancock Market Value

$124,700

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 Hancock, Washington County, Maryland

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
21750	$69,160	$89,900	$124,700	$171,300	$222,600

Source: Ownwell

Property Tax Bills Across Hancock, Washington County, Maryland

In Hancock, Maryland, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Hancock is $124,700. The property tax rate is applied to this assessed value to determine the annual tax bill. For Hancock homeowners, the tax bill at the 25th percentile is $877, while the 75th percentile tax bill is $1,746. At the 90th percentile, it reaches $2,288. Compared to the national median property tax bill of $2,400, Hancock's tax bills are generally lower, providing some relief to homeowners. However, property taxes can still be a significant expense. Ownwell offers services to help homeowners reduce their property tax bills by appealing assessments and identifying potential exemptions. By leveraging local expertise, Ownwell assists homeowners in navigating the complexities of the property tax system, potentially resulting in substantial savings. This support ensures that homeowners in Hancock are not overpaying on their property taxes and can benefit from a fair assessment.

Property Tax Bills Across Hancock, Washington County, Maryland

Source: Ownwell

$954

$2,005

$3,055

Median Hancock Tax Bill

$1,236

Median Washington County Tax Bill

$1,934

Median Maryland Tax Bill

$3,419

Median United States Tax Bill

$2,400

Property Tax Bills Across Hancock, Washington County, Maryland

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
21750	$651	$877	$1,236	$1,746	$2,288

Source: Ownwell

Don't miss the deadline to appeal!

Dates

Links
Washington Tax Assessor
Website	sdat.dat.maryland.gov