Taxes & Insurance in Takoma Park
Takoma Park carries a real, above-average 1.72% effective property tax rate, Montgomery County's maximum permitted local piggyback income tax, and the same statewide insurance-cost pressure documented across this dataset -- at a higher absolute dollar cost given the city's elevated home values.
Exploring the idea of moving?
We can connect you with a local real estate professional who knows the area -- no pressure, just a starting point.
Learn moreA property tax rate above national and state averages
Takoma Park's median effective property tax rate (1.72%, Ownwell) runs above both the 1.02% national median and Maryland's own 0.95%-1.04% statewide average, layered onto a real $0.318-per-$100 city rate on top of the resident's home county rate.
Montgomery County's maximum local income tax piggyback rate
Maryland's real, 10-bracket state income tax (2%-6.5%) applies in Takoma Park exactly as it does statewide, and Montgomery County, Takoma Park's primary home county, is one of only three Maryland counties currently levying the maximum 3.2% local piggyback rate on top of it -- a real combined top marginal rate of approximately 8.95%.
Rising statewide insurance costs, at a higher absolute dollar cost
No Takoma Park-specific homeowners-insurance premium figure distinct from Maryland's own statewide figures was found this pass -- Maryland insurance costs are rising statewide (a real, measurable 26.3% increase since 2023), and Takoma Park's genuinely elevated home values mean the real dollar cost of that statewide percentage increase runs higher in absolute terms than in Maryland's more affordable markets.
Key takeaways
- Takoma Park's 1.72% effective property tax rate runs above both national and Maryland statewide averages.
- Montgomery County levies Maryland's maximum 3.2% local piggyback income tax rate, producing a ~8.95% combined top marginal rate.
- Maryland homeowners insurance is rising statewide; Takoma Park's elevated home values mean a higher absolute dollar impact than in more affordable Maryland markets.
- Confirm current, address-specific tax and insurance figures directly, including which county (Montgomery or Prince George's) applies.
Want to know what your budget actually buys here?
Tell us a bit about what you're looking for and we'll connect you with someone local who can walk you through real numbers.
Get local guidanceRead the full Takoma Park overview for the complete picture -- housing, taxes, climate, and who this place genuinely fits.
Planning a move?
Tell us what you're looking for and we'll connect you with a local expert who can help you make it happen.
Talk to a local expert