Smyrna Mills, Maine Property Taxes
The median property tax rate in Smyrna Mills, ME is 1.55%, which is considerably higher than the national median of 0.99% but slightly below the Maine state median of 1.57%. With a median home value of $62,650 in Smyrna Mills, the typical annual property tax bill amounts to $1,160, which is below the national median of $2,690. Property taxes in Smyrna Mills are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Smyrna Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Smyrna Mills 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
Smyrna Mills, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$971
Ownwell’s Smyrna Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Smyrna Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smyrna Mills 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 Smyrna Mills, Maine
Property taxes in Smyrna Mills, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Smyrna Mills is 1.55%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Smyrna Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smyrna Mills 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 Smyrna Mills' effective property tax rate to other counties in Maine and the national median. For comparison, the 04780 zip code has the highest median property tax rate of 1.55%, while the same 04780 zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Smyrna Mills 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 Smyrna Mills Tax Rate
1.55%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Smyrna Mills, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04780 | 1.55% | 1.55% | 1.55% | 2.11% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Smyrna Mills, Maine
In Smyrna Mills, 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 Smyrna Mills, 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. With a median home price of $62,650, tax bills can vary significantly. The 25th percentile tax bill is around $608, while the 75th percentile reaches $1,782. The highest and lowest median tax bills, both at $1,160, are found in zip code 04780. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Smyrna Mills Assessed Value
$62,650
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 Smyrna Mills, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04780 | $22,880 | $39,200 | $62,650 | $89,175 | $130,720 |
Source: Ownwell
Property Tax Bills Across Smyrna Mills, Maine
In Smyrna Mills, Aroostook County, ME, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value, which is determined by the local assessor, reflects the market value of the property. Homeowners in Smyrna Mills typically see a range of property tax bills. For instance, the tax bill at the 25th percentile is around $608, while the 75th percentile tax bill is approximately $1,782. At the 90th percentile, the tax bill can reach up to $2,026. The median home price in Smyrna Mills is $62,650, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, the property tax rate in Smyrna Mills may vary, impacting how much homeowners pay annually. These property taxes fund essential public services such as schools, roads, and emergency services, directly affecting the quality of life for residents. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Smyrna Mills Tax Bill
$1,160
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Smyrna Mills, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04780 | $505 | $608 | $1,160 | $1,782 | $2,026 |
Source: Ownwell