Harrison, Maine Property Taxes
The median property tax rate in Harrison, ME is 1.19%, noticeably higher than the national median of 0.99%, yet lower than Maine's state median of 1.57%. With a median home value of $183,200 in Harrison, the typical annual property tax bill amounts to $2,180, which is below the national median of $2,690. Property taxes in Harrison are determined based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Harrison's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Harrison or another part of Cumberland County, gaining a thorough understanding of the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Harrison, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$2,180
Ownwell’s Harrison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrison 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 Harrison, Maine
Property taxes in Harrison, ME, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrison is 1.19%, higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Harrison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrison 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 Harrison's effective property tax rate to other counties in Maine and the national median. For comparison, the 04040 zip code has the highest median property tax rate of 1.19%, while the 04040 zip code has the lowest median tax rate of 1.19%. Understanding how these cities compare with Harrison provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrison Tax Rate
1.19%
Average Cumberland County Tax Rate
1.52%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrison, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04040 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Harrison, Maine
In Harrison, 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 Cumberland 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 Harrison, 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. The median home price in Harrison is $183,200, with the 25th percentile tax bill at $1,531 and the 75th percentile tax bill at $2,984. The highest and lowest median tax bill in the area is $2,180, found in zip code 04040. Being aware of these valuation processes in Harrison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harrison Assessed Value
$183,200
Average Cumberland County Assessed Value
$319,900
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrison, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04040 | $106,880 | $128,650 | $183,200 | $250,800 | $516,120 |
Source: Ownwell
Property Tax Bills Across Harrison, Maine
In Harrison, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements made to the property. Homeowners in Harrison experience varying tax bills, with the 25th percentile at $1,531 and the 75th percentile reaching $2,984. The highest median tax bill in the area is $2,180, and this figure is consistent across the region. Comparatively, the national median property tax rate stands at 0.99%, making Harrison's tax landscape relatively moderate. These tax bills significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding how these taxes are calculated helps homeowners anticipate their annual expenses and better manage their budgets.
Average Harrison Tax Bill
$2,180
Average Cumberland County Tax Bill
$4,856
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrison, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04040 | $1,272 | $1,531 | $2,180 | $2,984 | $6,142 |
Source: Ownwell