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How Much is Property Tax on a $700,000 Home in Maryland?
Property tax on a $700,000 home in Maryland typically ranges from $4,200 to $11,900 per year (roughly $350 to $992/month), depending on the county. Based on the statewide average effective rate of 1.07%, you can expect to pay around $7,490/year, or $624/month. Maryland property taxes include both state and county rates; the state caps annual assessment increases at 10% for homestead properties.