Molunkus Twp, Maine Property Taxes
The median property tax rate in Molunkus Twp, ME is 0.71%, significantly lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Molunkus Twp at $130,570, the typical annual property tax bill reaches $921, which is well below the national median of $2,690. Property taxes in Molunkus Twp are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Molunkus Twp'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 Molunkus Twp or another part of Aroostook County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Molunkus Twp, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$927
Ownwell’s Molunkus Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Molunkus Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Molunkus Twp 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 Molunkus Twp, Maine
Property taxes in Molunkus Township, Maine, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Molunkus Township is 0.71%, which is lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Molunkus Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Molunkus Township 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 Molunkus Township's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04459 has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these figures compare with Molunkus Township 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 Molunkus Twp Tax Rate
0.71%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Molunkus Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04459 | 0.70% | 0.70% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Molunkus Twp, Maine
In Molunkus Twp, 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 Molunkus Twp, 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 Molunkus Twp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $130,570, with tax bills ranging from $764 at the 25th percentile to $1,270 at the 90th percentile. The zip code 04459 has both the highest and lowest median tax bill of $921.
Average Molunkus Twp Assessed Value
$130,570
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 Molunkus Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04459 | $75,262 | $108,315 | $130,570 | $159,140 | $180,114 |
Source: Ownwell
Property Tax Bills Across Molunkus Twp, Maine
In Molunkus Township, Aroostook County, ME, property tax bills are calculated based on the assessed value of a home, which is often less than the market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in this region typically see tax bills that vary significantly; for instance, 25% of homeowners pay around $764, while those in the 75th percentile pay approximately $1,110. The highest tax bills in the area reach up to $1,270. The median home price in Molunkus Township is $130,570, and the property tax rate is calculated to ensure that essential services such as schools, public safety, and infrastructure are adequately funded. This rate is relatively competitive when compared to the national median property tax rate of 0.99%. Homeowners should consider these factors when budgeting for annual expenses, as property taxes directly impact the overall cost of homeownership and can influence decisions regarding buying or selling property in the area.
Average Molunkus Twp Tax Bill
$921
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Molunkus Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04459 | $531 | $764 | $921 | $1,110 | $1,270 |
Source: Ownwell