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How Much is Property Tax on a $1,000,000 Home in Maryland?
Property tax on a $1,000,000 home in Maryland typically ranges from $6,000 to $17,000 per year (roughly $500 to $1,417/month), depending on the county. Based on the statewide average effective rate of 1.07%, you can expect to pay around $10,700/year, or $892/month. Maryland property taxes include both state and county rates; the state caps annual assessment increases at 10% for homestead properties.