Property Tax Analysis for Somerset County, MD
Property tax rates, assessment ratios, and appeal potential in Somerset County.
Effective Tax Rate
1.1%
Annual Tax Bill
$1,651
Monthly Escrow
$138
Tax Burden
3.2% of income
Tax Assessment Details
Current Assessment
Market Value$157,200
Est. Assessed Value$133,620
Assessment Ratio~85%
Effective Rate1.1%
Appeal Potential
Potential Annual Savings$248
5-Year Savings$1,240
vs National Averagebelow (1.1%)
Appeal Success Rate~40-60%
About Property Taxes in Somerset County
Somerset County in Maryland has an effective property tax rate of 1.1%, which is below the national average of 1.1%. On a median home value of $157,200, that translates to $1,651 annually or $138 per month in escrow.
Property tax assessments can often be successfully appealed. Our calculator models assessment ratios, comparable sales analysis, and appeal timing to estimate your potential savings with Monte Carlo simulation.
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