Montgomery County Property Tax: How to Calculate it? Tax Rebate News

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Montgomery County Property Tax

Montgomery County imposes taxes on the properties in the county, just like any other city or county does; nonetheless, the region’s rates are rising. The value of the property and the tax rates determined by the several local governments (taxing entities) that impose taxes determine the amount of property taxes in Montgomery County.

With a median yearly property tax payment of $4,859, it has an effective property tax rate of 0.99% on average. The county council approved a $6.7 billion budget for the fiscal year 2024.

This page provides comprehensive information on how property taxes are handled in Montgomery County, so if you live there, you should read it. This article will cover theĀ  Property Tax details of the region, its rates, how it is calculated, and other essential aspects.

Montgomery County Property Tax Payment

Property valuation in Montgomery County is the responsibility of the Board of Assessors. Every year, during the final week of October, property tax invoices for Montgomery County are mailed to the record owner.

Montgomery County Property Tax

The deadline for filing taxes is the first Monday in November; in order to avoid interest, taxes must be paid in full by the last day of February of the following year. The interest of 1.5 percent (18 percent yearly) is charged to your base tax amount on the first day of each month, starting on March 1.

Using the County’s property tax online payment portal, available at, you can make the tax payment online. There are no service fees associated with using UPI apps, debit, credit, and e-checks as online payment methods. The County administration does not, it is crucial to mention, accept money orders.

Montgomery County Property Tax Overview

Article Name Montgomery County Property Tax
Government Montgomery County Government (Maryland)
Average Property Tax Rate 0.99%
Accessibility Date October of each financial year.
Annual Property Tax Payment $4,859
Montgomery County Website

Montgomery County Property Tax Rates

Based on the $4,859 median real estate taxes paid by county households, the average effective property tax rate in Montgomery County is 0.99%. This is equivalent to the country’s current average effective property tax rate of 0.99%. The existing tax rate is $0.89 per $100 of assessed value; the Board of Supervisors adopted a new tax rate of $0.70 per $100 of assessed value.

The County Council sets the tax rate that applies to the assessed value of Montgomery County real estate that isn’t exempt from property taxes each year. Annual total expenditure is determined by local taxation units, which comprise the county, school districts, and special districts. This, in turn, dictates the tax rate they must establish and the overall amount that property owners must pay.

How to Calculate Montgomery County Property Tax?

Property valuation in Montgomery County is the responsibility of the Board of Assessors. Each year, through the filing of tax returns, property owners have the opportunity to declare a recommended value for their property between January 1 and April 1.

The value agreed upon by the Board of Assessors and the property owner is given to the Tax Commissioner for use in calculating the tax amount. The basis used by taxing authorities to calculate the amount of real estate taxes due is the assessed value of a property. 100% of a property’s fair market value is assessed.

Any applicable exemptions must first be subtracted from the assessed value to get a net assessed or taxable value, which is then used to compute the tax obligation. The estimated amount of property tax that an owner who is not eligible for any exemptions would pay is determined by multiplying the net assessed value by the applicable tax rates.

Montgomery County Tax Rebate News

A Homeowner’s Property Tax Credit Program is available in Maryland, and Montgomery County offers a County Supplemental tax credit program. The County’s residents are eligible for property tax refunds under both of these schemes. The application deadline is September 1st of every tax year, and eligibility is determined by household income.

Additionally, senior persons in Montgomery County are eligible for special property tax aid. To be eligible, property owners must be at least 65 years old. The credit can be obtained by applying up to 50% of the combined State Homeowner’s Property Tax Credit (HOTC) and County Supplement. An additional benefit is the Homestead Tax Credit, which is awarded if your tax liability is above 10% of your total income.

We are extremely thankful that you have visited our website and read this article on Montgomery’s property tax rules and calculations.


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