Silver Spring, MD — income, home value, property tax, and sales tax.
In ZIP code 20889, near Silver Spring, per-capita income stands at $45,106, while the county-level effective property tax rate is 0.86%. That rate means a home assessed at $400,000 would generate roughly $3,440 in annual property taxes, a figure that scales directly with local home values. Because the rate itself stays below one percent, the total tax owed depends heavily on what a house is worth rather than on an unusually steep levy. Sales taxes add 6.00% to purchases in the area, a separate cost that shapes day-to-day spending alongside housing expenses.