Garfield Plt, Maine Property Taxes
The median property tax rate in Garfield Plt, ME is 0.69%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Garfield Plt at $192,280, the typical annual property tax bill reaches $1,327, which is notably below the national median of $2,690. Property taxes in Garfield Plt 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 Garfield Plt'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 Garfield Plt or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Garfield Plt, 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 Garfield Plt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garfield Plt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garfield Plt 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 Garfield Plt, Maine
Property taxes in Garfield Plt, Maine, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Garfield Plt is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Garfield Plt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garfield Plt 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. Understanding how Garfield Plt's property tax rate compares to other regions in Aroostook County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garfield Plt Tax Rate
0.69%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garfield Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04732 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Garfield Plt, Maine
In Garfield Plt, 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 Garfield Plt, 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 Garfield Plt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 04732, both valued at $1,327.
Average Garfield Plt Assessed Value
$192,280
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 Garfield Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04732 | $192,280 | $192,280 | $192,280 | $192,280 | $192,280 |
Source: Ownwell
Property Tax Bills Across Garfield Plt, Maine
In Garfield Plt, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Aroostook County. The assessed value is determined by the local assessor and reflects the market value of the property. For example, with a median home price of $192,280, the tax bill can be influenced by various factors such as property size, location, and improvements. The median property tax bill in Garfield Plt is $1,327, which aligns with the 25th, 75th, and 90th percentiles, indicating a uniform rate across the board. This stands in contrast to the national median property tax rate of 0.99%, highlighting the specific financial obligations homeowners in this area face. Homeowners in Garfield Plt should be aware of these factors as they directly impact annual property tax expenses. Understanding how these elements contribute to the overall tax bill can help homeowners plan their finances better and explore potential exemptions or appeals if they believe their property has been over-assessed.
Average Garfield Plt Tax Bill
$1,327
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Garfield Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04732 | $1,327 | $1,327 | $1,327 | $1,327 | $1,327 |
Source: Ownwell