21047 Property Tax Rate

Property owners in ZIP code 21047 (Fallston, Maryland) pay a median of $4,615/year in property taxes on homes valued at $516,700. This translates to an effective tax rate of 0.89%, which is 7% below the Maryland state average of 0.96%.

The monthly property tax burden for a median-valued home in 21047 is approximately $385, which factors into escrow payments on mortgages. This ZIP code is located within Harford County. This is $641 more than the Maryland average of $3,974/year.

Compared to similar ZIP codes in Maryland, 21047 has higher property taxes. ZIP codes with similar effective rates include 21655 (0.89%) and 21050 (0.89%).

In Fallston, property taxes represent approximately 3.0% of the median household income of $154,524, providing context for the relative tax burden on homeowners in this area.

Maryland's Homestead Tax Credit caps annual assessment increases at 10% for your primary residence, though your initial purchase-year assessment is unrestricted — file for the credit with Harford County's tax office. The credit applies automatically to qualifying primary residences but requires proper registration; contact the Harford County Assessor to ensure your homestead classification is recorded within 45 days of purchase. Request a copy of your Notice of Assessment and confirm your assessment ratio is correct (owner-occupied property should be assessed on market value).