Tax Burden in ZIP Code 20740
College Park, MD — Prince Georges County
At the median income of $62,000, the estimated total tax burden in ZIP 20740 is $17,196 (27.7% effective rate), including federal income tax, FICA, and property tax.
Federal Tax (est.)
$8,680
FICA
$4,743
Property Tax
$3,773
Total Tax Burden
$17,196
27.7% effective
Tax Details for ZIP 20740
ZIP code 20740 is located in Prince Georges County, MD, within the Washington MSA metropolitan area. The area has a cost of living index of 118 (100 = national average), making it more expensive than most parts of the country.
The effective property tax rate is 0.98%. On the median home price of $385,000, this equals $3,773 per year ($314/month).
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