Caswell, Maine Property Taxes
The median property tax rate in Caswell, ME is 2.57%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Caswell, the typical annual property tax bill reaches $1,277, exceeding the national median of $2,690. Property taxes in Caswell are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Caswell's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Caswell or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Caswell, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Caswell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caswell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caswell to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Caswell, Maine
Property taxes in Caswell, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caswell is 2.57%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Caswell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caswell estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Caswell's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04750 has both the highest and lowest median property tax rate of 2.57%. Understanding how these cities compare with Caswell provides valuable insights into the varying tax landscape across Aroostook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caswell Tax Rate
2.57%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caswell, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04750 | 2.57% | 2.57% | 2.57% | 2.57% | 2.57% |
Source: Ownwell
Property Tax Assessment Values Across Caswell, Maine
In Caswell, Maine, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Aroostook County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Caswell, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Caswell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04750 has the highest median tax bill at $1,277, which is above the national median property tax rate of 0.99%.
Average Caswell Assessed Value
$49,764
Average Aroostook County Assessed Value
$86,999
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caswell, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04750 | $26,686 | $35,834 | $49,764 | $70,698 | $106,878 |
Source: Ownwell
Property Tax Bills Across Caswell, Maine
In Caswell, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Caswell, the median home price is $49,764. Property tax bills can vary significantly depending on the value of the property and the specific tax rate applied. For example, the tax bill at the 25th percentile is $919, while at the 75th percentile, it rises to $1,814. At the 90th percentile, homeowners can expect to pay around $2,742. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in Caswell need to be aware of their property’s assessed value and the local tax rate to budget appropriately for these expenses. Compared to the national median property tax rate of 0.99%, Caswell's rates can be seen as relatively moderate, providing essential services without overly burdening homeowners.
Average Caswell Tax Bill
$1,277
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Caswell, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04750 | $685 | $919 | $1,277 | $1,814 | $2,742 |
Source: Ownwell