The median sales price of a Montgomery County home in the first quarter of 2024 was $520,000, based on data from the 1,822 properties sold during that time. In 2024, the median tax bill for the county was $6,006, which is 1.2% of the median value of the homes that were taxed.
This is 1 time higher 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 Boyds, Rockville, and Calverton paid the highest rates.
The above article calculates the effective property tax rate for 2024 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 Boyds with some other cities belonging to Montgomery County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2024.
| City | Q1 2024 Sales | Q1 2024 Median Price | Median tax 2024 | Effective tax rate |
|---|---|---|---|---|
| Boyds | 3 | $412,700 | $6,185 | 1.5% |
| Rockville | 87 | $550,000 | $7,746 | 1.4% |
| Calverton | 11 | $370,000 | $4,867 | 1.3% |
| Silver Spring | 84 | $544,500 | $6,264 | 1.2% |
| Olney | 45 | $560,000 | $6,615 | 1.2% |
| North Bethesda | 105 | $525,000 | $5,834 | 1.1% |
| Forest Glen | 20 | $517,000 | $5,856 | 1.1% |
| Clarksburg | 20 | $557,000 | $6,362 | 1.1% |
| White Oak | 32 | $528,000 | $5,598 | 1.1% |
| Burtonsville | 11 | $475,000 | $5,038 | 1.1% |
| Takoma Park | 24 | $886,000 | $10,026 | 1.1% |
| Aspen Hill | 81 | $500,000 | $5,480 | 1.1% |
| Gaithersburg | 100 | $498,750 | $5,700 | 1.1% |
| Derwood | 23 | $600,000 | $6,180 | 1% |
| Brookeville | 4 | $937,000 | $9,156 | 1% |
| Ashton-Sandy Spring | 13 | $770,000 | $7,727 | 1% |
| Fairland | 25 | $390,000 | $4,053 | 1% |
| Colesville | 35 | $646,000 | $6,301 | 1% |
| Kemp Mill | 20 | $560,000 | $5,694 | 1% |
| Damascus | 35 | $510,000 | $5,274 | 1% |
| Friendship Village | 14 | $334,050 | $3,452 | 1% |
| North Potomac | 18 | $886,500 | $9,228 | 1% |
| Montgomery Village | 144 | $370,000 | $3,847 | 1% |
| Wheaton-Glenmont | 109 | $481,750 | $4,969 | 1% |
| Germantown | 194 | $402,500 | $4,225 | 1% |
| Potomac | 88 | $1,249,200 | $10,928 | 0.9% |
| Poolesville | 11 | $600,000 | $5,579 | 0.9% |
| Darnestown | 13 | $1,120,000 | $9,733 | 0.9% |
| Rossmoor | 37 | $281,000 | $2,565 | 0.9% |
| Cloverly | 13 | $650,000 | $5,888 | 0.9% |
| North Kensington | 23 | $640,000 | $5,978 | 0.9% |
| Bethesda | 161 | $1,200,000 | $11,310 | 0.9% |
| Chevy Chase | 33 | $1,501,000 | $13,635 | 0.9% |
| Travilah | 11 | $1,700,000 | $15,061 | 0.9% |
| South Kensington | 16 | $1,250,000 | $9,770 | 0.8% |
| Hillandale | 2 | $910,000 | $6,159 | 0.7% |
| Garrett Park | 5 | $1,300,000 | $8,589 | 0.7% |
| Cabin John | 2 | $2,275,000 | $11,020 | 0.5% |
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