21120 Property Tax Rate

Property owners in ZIP code 21120 (Parkton, Maryland) pay a median of $4,623/year in property taxes on homes valued at $552,400. This translates to an effective tax rate of 0.84%, which is 13% below the Maryland state average of 0.96%.

The monthly property tax burden for a median-valued home in 21120 is approximately $385, which factors into escrow payments on mortgages. This ZIP code is located within Baltimore County. This is $649 more than the Maryland average of $3,974/year.

Compared to similar ZIP codes in Maryland, 21120 has higher property taxes. ZIP codes with similar effective rates include 21217 (0.84%) and 20690 (0.84%).

In Parkton, property taxes represent approximately 2.9% of the median household income of $157,275, 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 Baltimore County's tax office. The credit applies automatically to qualifying primary residences but requires proper registration; contact the Baltimore 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).