Fort Kent, Maine Property Taxes
The median property tax rate in Fort Kent, ME is 2.10%, significantly higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Fort Kent at $118,300, the typical annual property tax bill reaches $2,432, slightly below the national median of $2,690. Property taxes in Fort Kent are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Fort Kent'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 Fort Kent 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
Fort Kent, 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 Fort Kent Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Kent with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Kent 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 Fort Kent, Maine
Property taxes in Fort Kent, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Kent is 2.10%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Fort Kent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Kent 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 Fort Kent's effective property tax rate to other counties in Maine and the national median. For comparison, the 04743 zip code has the highest median property tax rate of 2.10%, while the same zip code also has the lowest median tax rate of 2.10%. Understanding how these cities compare with Fort Kent 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 Fort Kent Tax Rate
2.10%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Kent, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04743 | 2.10% | 2.10% | 2.10% | 2.10% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Fort Kent, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fort Kent, ME. 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 Fort Kent, 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 Fort Kent helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fort Kent are both $2432, found in zip code 04743.
Average Fort Kent Assessed Value
$118,300
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 Fort Kent, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04743 | $54,860 | $80,375 | $118,300 | $171,550 | $237,060 |
Source: Ownwell
Property Tax Bills Across Fort Kent, Maine
In Fort Kent, Aroostook County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local tax assessor and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. For instance, the median home price in Fort Kent is $118,300. Homeowners in this area can expect their tax bills to vary significantly. The 25th percentile tax bill is around $1,606, while the 75th percentile reaches approximately $3,552, and the 90th percentile can go up to $4,952. Compared to the national median property tax rate of 0.99%, Fort Kent's tax bills can be relatively high, impacting homeowners' annual expenses. Understanding these factors can help homeowners anticipate their property tax liabilities and plan their finances accordingly.
Average Fort Kent Tax Bill
$2,432
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Kent, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04743 | $1,030 | $1,606 | $2,432 | $3,552 | $4,952 |
Source: Ownwell