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How Much is Property Tax on a $550,000 Home in Maryland?
Property tax on a $550,000 home in Maryland typically ranges from $3,300 to $9,350 per year (roughly $275 to $779/month), depending on the county. Based on the statewide average effective rate of 1.07%, you can expect to pay around $5,885/year, or $490/month. Maryland property taxes include both state and county rates; the state caps annual assessment increases at 10% for homestead properties.