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Baltimore City Wire

Friday, November 8, 2024

Analysis: Baltimore city effective property tax rate outpaced the national average in Q3 2022

Realestate4

Property owners in Baltimore city paid 1.6% of the value of their homes in property taxes in the third quarter of 2022, which is more than 1.5 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 third quarter of 2022 was $155,000, based on data from the 4,259 properties sold during that time. In 2018 the median tax bill for the county was $2,496, which is 1.6% of the median value of the homes that were taxed.

This is 1.5 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, Parkville, 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 third quarter of 2022.

CityQ3 2022 SalesQ3 2022 Median PriceMedian tax 2022Effective tax rate
Rosedale6$114,000$3,1072.7%
Parkville5$178,000$3,3981.9%
Baltimore4,215$155,000$2,8131.8%
Towson8$200,000$3,0831.5%
Pikesville7$182,000$2,7791.5%
Dundalk14$184,750$2,3971.3%

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