The median sales price of a Montgomery County home in the second quarter of 2023 was $585,000, based on data from the 2,863 properties sold during that time. In 2023, the median tax bill for the county was $5,806, which is 1% of the median value of the homes that were taxed.
This is 0.9 times lower than the average effective property tax rate of 1.11% in the U.S. in 2023.
The analysis of Montgomery County real estate data showed homeowners in Takoma Park paid the highest tax rate of 1.5%.
The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2020 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.
The following table compares Takoma Park with some other cities belonging to Montgomery County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2023.
| City | Q2 2023 Sales | Q2 2023 Median Price | Median tax 2023 | Effective tax rate |
|---|---|---|---|---|
| Takoma Park | 51 | $652,500 | $9,692 | 1.5% |
| Calverton | 25 | $403,000 | $4,705 | 1.2% |
| Burtonsville | 27 | $405,000 | $4,870 | 1.2% |
| Cabin John | 3 | $875,000 | $10,653 | 1.2% |
| Dickerson | 3 | $450,000 | $5,172 | 1.1% |
| North Bethesda | 164 | $527,500 | $5,640 | 1.1% |
| Rockville | 160 | $699,950 | $7,488 | 1.1% |
| Forest Glen | 33 | $517,500 | $5,661 | 1.1% |
| Gaithersburg | 205 | $520,000 | $5,510 | 1.1% |
| Derwood | 48 | $602,000 | $5,974 | 1% |
| Boyds | 4 | $617,500 | $5,979 | 1% |
| Ashton-Sandy Spring | 15 | $750,000 | $7,469 | 1% |
| Poolesville | 28 | $560,000 | $5,393 | 1% |
| Fairland | 41 | $398,000 | $3,917 | 1% |
| Darnestown | 14 | $912,500 | $9,408 | 1% |
| Washington Grove | 6 | $628,000 | $6,255 | 1% |
| Colesville | 43 | $624,000 | $6,091 | 1% |
| Cloverly | 24 | $592,000 | $5,692 | 1% |
| Clarksburg | 26 | $640,750 | $6,150 | 1% |
| North Potomac | 44 | $912,500 | $8,920 | 1% |
| Montgomery Village | 199 | $375,000 | $3,719 | 1% |
| Garrett Park | 10 | $845,000 | $8,302 | 1% |
| Aspen Hill | 113 | $521,000 | $5,297 | 1% |
| Olney | 114 | $625,000 | $6,395 | 1% |
| Wheaton-Glenmont | 118 | $505,000 | $4,804 | 1% |
| Germantown | 225 | $410,000 | $4,084 | 1% |
| South Kensington | 30 | $1,002,500 | $9,444 | 0.9% |
| Potomac | 144 | $1,219,500 | $10,564 | 0.9% |
| Rossmoor | 59 | $284,400 | $2,480 | 0.9% |
| Kemp Mill | 26 | $597,000 | $5,504 | 0.9% |
| Damascus | 56 | $564,253 | $5,098 | 0.9% |
| White Oak | 38 | $587,000 | $5,411 | 0.9% |
| North Kensington | 40 | $648,500 | $5,779 | 0.9% |
| Bethesda | 283 | $1,245,000 | $10,933 | 0.9% |
| Silver Spring | 151 | $642,000 | $6,055 | 0.9% |
| Travilah | 35 | $1,550,000 | $14,559 | 0.9% |
| Hillandale | 4 | $789,500 | $5,953 | 0.8% |
| Chevy Chase | 48 | $1,691,250 | $13,181 | 0.8% |
| Laytonsville | 5 | $949,000 | $8,049 | 0.8% |
| Brookeville | 7 | $1,200,000 | $8,850 | 0.7% |
| Friendship Village | 16 | $559,500 | $3,337 | 0.6% |
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