Frenchville, Maine Property Taxes
The median property tax rate in Frenchville, ME is 2.43%, significantly higher than both the national median of 0.99% and Maine's state median of 1.57%. With the median home value in Frenchville at $66,920, the typical annual property tax bill reaches $1,626, which is below the national median of $2,690. Property taxes in Frenchville 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 Frenchville'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 Frenchville 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
Frenchville, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.43%
Estimate Property Tax Bill
$1,626
Ownwell’s Frenchville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frenchville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frenchville 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 Frenchville, Maine
Property taxes in Frenchville, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frenchville is 2.43%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Frenchville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frenchville 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 Frenchville's effective property tax rate to other counties in Maine and the national median. For comparison, the 04745 zip code has the highest median property tax rate of 2.43%, while the 04745 zip code also has the lowest median tax rate of 2.43%. Understanding how these cities compare with Frenchville 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 Frenchville Tax Rate
2.43%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frenchville, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04745 | 2.43% | 2.43% | 2.43% | 2.43% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Frenchville, Maine
In Frenchville, 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 Frenchville, 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. For instance, the median home price in Frenchville is $66,920, with the 25th percentile tax bill at $1,200 and the 75th percentile tax bill at $1,965. The highest median tax bill in the area is $1,626 in the 04745 zip code, which also has the lowest median tax bill at $1,626. 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 Frenchville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Frenchville Assessed Value
$66,920
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 Frenchville, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04745 | $36,697 | $49,392 | $66,920 | $80,962 | $99,695 |
Source: Ownwell
Property Tax Bills Across Frenchville, Maine
In Frenchville, located in Aroostook County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Frenchville is $66,920. To determine the tax bill, the assessed value of the property is multiplied by the local property tax rate. This rate is influenced by factors such as local government budgets, public service needs, and school funding requirements. Homeowners in Frenchville can expect their property tax bills to vary significantly. The tax bill at the 25th percentile is around $1,200, while at the 75th percentile, it rises to approximately $1,965. For those at the 90th percentile, the tax bill can reach up to $2,423. These variations highlight the impact of property values and local tax rates on individual tax burdens. Compared to the national median property tax rate of 0.99%, Frenchville's property tax rates can be seen as reflective of the local economic conditions and the specific needs of the community. This system ensures that property taxes are proportionate to the value of the property, thereby affecting homeowners differently based on their property’s assessed value.
Average Frenchville Tax Bill
$1,626
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Frenchville, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04745 | $892 | $1,200 | $1,626 | $1,965 | $2,423 |
Source: Ownwell