The median sales price of a Montgomery County home in the second quarter of 2024 was $620,000, based on data from the 2,500 properties sold during that time. In 2024, the median tax bill for the county was $6,006, 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 and North Bethesda 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 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 2024.
| City | Q2 2024 Sales | Q2 2024 Median Price | Median tax 2024 | Effective tax rate |
|---|---|---|---|---|
| Takoma Park | 33 | $787,000 | $10,026 | 1.3% |
| North Bethesda | 139 | $500,000 | $5,834 | 1.2% |
| Derwood | 30 | $575,750 | $6,180 | 1.1% |
| Rockville | 141 | $690,000 | $7,746 | 1.1% |
| Brookeville | 6 | $810,750 | $9,156 | 1.1% |
| Clarksburg | 22 | $592,500 | $6,362 | 1.1% |
| Calverton | 19 | $500,000 | $4,867 | 1% |
| South Kensington | 27 | $949,000 | $9,770 | 1% |
| Fairland | 31 | $419,900 | $4,053 | 1% |
| Darnestown | 9 | $1,000,000 | $9,733 | 1% |
| Rossmoor | 44 | $250,500 | $2,565 | 1% |
| Forest Glen | 19 | $575,000 | $5,856 | 1% |
| Friendship Village | 23 | $334,000 | $3,452 | 1% |
| Burtonsville | 12 | $511,000 | $5,038 | 1% |
| Garrett Park | 9 | $900,000 | $8,589 | 1% |
| Aspen Hill | 130 | $528,500 | $5,480 | 1% |
| Olney | 84 | $656,050 | $6,615 | 1% |
| Germantown | 207 | $440,000 | $4,225 | 1% |
| Gaithersburg | 184 | $572,000 | $5,700 | 1% |
| Boyds | 2 | $712,500 | $6,185 | 0.9% |
| Ashton-Sandy Spring | 17 | $862,000 | $7,727 | 0.9% |
| Potomac | 149 | $1,250,000 | $10,928 | 0.9% |
| Poolesville | 22 | $612,500 | $5,579 | 0.9% |
| Colesville | 40 | $703,500 | $6,301 | 0.9% |
| Cloverly | 15 | $640,000 | $5,888 | 0.9% |
| Kemp Mill | 25 | $625,000 | $5,694 | 0.9% |
| Damascus | 53 | $565,000 | $5,274 | 0.9% |
| North Kensington | 38 | $657,500 | $5,978 | 0.9% |
| Bethesda | 235 | $1,292,500 | $11,310 | 0.9% |
| Silver Spring | 127 | $682,500 | $6,264 | 0.9% |
| Montgomery Village | 186 | $429,000 | $3,847 | 0.9% |
| Travilah | 36 | $1,649,500 | $15,061 | 0.9% |
| Laytonsville | 9 | $950,000 | $8,327 | 0.9% |
| Wheaton-Glenmont | 108 | $550,000 | $4,969 | 0.9% |
| Hillandale | 2 | $797,500 | $6,159 | 0.8% |
| White Oak | 24 | $683,000 | $5,598 | 0.8% |
| North Potomac | 38 | $1,181,813 | $9,228 | 0.8% |
| Chevy Chase | 37 | $1,625,000 | $13,635 | 0.8% |
| Cabin John | 4 | $1,651,250 | $11,020 | 0.7% |
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