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Baltimore City Wire

Friday, November 15, 2024

Analysis: Baltimore city effective property tax rate outpaced the national average in Q1 2022

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Property owners in Baltimore city paid 1.5% of the value of their homes in property taxes in the first quarter of 2022, which is more than 1.4 times the national average, according to the real estate analysis posted by the Baltimore City Wire.

The median sales price of a Baltimore city home in the first quarter of 2022 was $163,200, based on data from the 2,337 properties sold during that time. In 2018 the median tax bill for the county was $2,496, which is 1.5% of the median value of the homes that were taxed.

This is 1.4 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Baltimore city real estate data showed homeowners in Rosedale, Dundalk, and Baltimore paid the highest rates.

The following table compares Rosedale with some other cities belonging to Baltimore city by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2022.

CityQ1 2022 SalesQ1 2022 Median PriceMedian tax 2022Effective tax rate
Rosedale2$65,200$3,1074.8%
Dundalk4$113,040$2,3972.1%
Baltimore2,312$163,100$2,8131.7%
Towson9$190,000$3,0831.6%
Parkville6$216,250$3,3981.6%
Pikesville2$315,000$2,7790.9%

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