Wallagrass, Maine Property Taxes
The median property tax rate in Wallagrass, ME is 1.65%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Wallagrass, the typical annual property tax bill reaches $1,450, which is still below the national median of $2,690. Property taxes in Wallagrass 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 Wallagrass'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 Wallagrass 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
Wallagrass, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$1,450
Ownwell’s Wallagrass Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wallagrass with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wallagrass 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 Wallagrass, Maine
Property taxes in Wallagrass, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wallagrass is 1.65%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Wallagrass set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wallagrass 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 Wallagrass's effective property tax rate to other counties in Maine and the national median. For comparison, the ZIP code 04781 has the highest median property tax rate of 1.65%, while the same ZIP code also has the lowest median tax rate of 1.65%. Understanding how these cities compare with Wallagrass 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 Wallagrass Tax Rate
1.65%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wallagrass, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04781 | 1.65% | 1.65% | 1.65% | 1.65% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Wallagrass, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wallagrass, Maine. 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 Wallagrass, 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 Wallagrass helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 04781, with a value of $1,450.
Average Wallagrass Assessed Value
$87,900
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 Wallagrass, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04781 | $50,300 | $65,050 | $87,900 | $125,150 | $173,100 |
Source: Ownwell
Property Tax Bills Across Wallagrass, Maine
Property tax bills in Wallagrass, located in Aroostook County, ME, are determined by several key factors. The primary element is the assessed value of a property, which is based on its market value. In Wallagrass, the median home price is $87,900. Property tax rates are then applied to this assessed value to calculate the tax bill. These rates can vary, but the national median property tax rate is 0.99%. Homeowners in Wallagrass can expect their tax bills to fall within a range depending on their property's value and specific circumstances. For instance, the 25th percentile tax bill is $1,074, while the 75th percentile tax bill is $2,065. At the higher end, the 90th percentile tax bill reaches $2,856. The highest and lowest median tax bills in the area both stand at $1,450, reflecting the uniformity in tax assessments within the zip code 04781. These property taxes fund local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the community's overall quality of life.
Average Wallagrass Tax Bill
$1,450
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Wallagrass, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04781 | $830 | $1,074 | $1,450 | $2,065 | $2,856 |
Source: Ownwell