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Frequently Asked Questions

How do you calculate real estate tax?

Calculate your real estate tax by multiplying your property’s assessed value by the annual tax rate. Subtract any applicable exemptions allowed by the tax code from this amount and then add any special fees that you’re liable for.

Is real estate property tax taxable?

These taxes are usually based on the relative value of the property. The more expensive the property, the higher the taxes will be for that property. To determine real estate taxes in most parts of the US, the taxable value of the property, which may not be the same as its assessed value, is taken and then the tax is figured based on the levy rate.

What is the property tax in Montgomery County Maryland?

Yearly median tax in Montgomery County. The median property tax in Montgomery County, Maryland is $3,690 per year for a home worth the median value of $482,900. Montgomery County collects, on average, 0.76% of a property's assessed fair market value as property tax.

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