Pownal, Maine Property Taxes
The median property tax rate in Pownal, ME is 1.89%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Pownal, the typical annual property tax bill reaches $4,999, exceeding the national median of $2,690. Property taxes in Pownal 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 Pownal'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 Pownal 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
Pownal, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.89%
Estimate Property Tax Bill
$5,012
Ownwell’s Pownal Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pownal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pownal 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 Pownal, Maine
Property taxes in Pownal, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pownal is 1.09%, slightly higher than the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Pownal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pownal 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 Pownal's effective property tax rate to other counties in Maine and the national median. For comparison, the 04069 zip code has the highest median property tax rate of 1.09%, while the 04069 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Pownal 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 Pownal Tax Rate
1.89%
Average Cumberland County Tax Rate
1.52%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pownal, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04069 | 1.88% | 1.88% | 1.89% | 1.89% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Pownal, Maine
In Pownal, 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 Pownal, 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. The median home price in this area is $265,200, with tax bills varying significantly. For example, the 25th percentile tax bill is $4,053, while the 75th percentile tax bill is $6,375, and at the 90th percentile, it reaches $7,932. 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 Pownal helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pownal Assessed Value
$265,200
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 Pownal, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04069 | $167,580 | $215,000 | $265,200 | $338,200 | $420,800 |
Source: Ownwell
Property Tax Bills Across Pownal, Maine
In Pownal, Cumberland County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $265,200, homeowners can expect varying tax bills. The 25th percentile tax bill stands at $4,053, while the 75th percentile reaches $6,375, and the 90th percentile goes up to $7,932. These tax bills are significantly higher than the national median property tax rate of 0.99%, highlighting the relatively high property taxes in this area. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning. Understanding how property tax bills are calculated can help homeowners better manage their finances and plan for future expenses.
Average Pownal Tax Bill
$4,999
Average Cumberland County Tax Bill
$4,856
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Pownal, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04069 | $3,159 | $4,053 | $4,999 | $6,375 | $7,932 |
Source: Ownwell