Windham, Maine Property Taxes
The median property tax rate in Windham, ME is 1.16%, which is higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Windham at $351,400, the typical annual property tax bill reaches $4,082, significantly exceeding the national median of $2,690. Property taxes in Windham 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 Windham'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 Windham 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
Windham, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Windham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Windham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Windham 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 Windham, Maine
Property taxes in Windham, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Windham is 1.16%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Windham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Windham 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 Windham's effective property tax rate to other counties in Maine and the national median. For comparison, the 04082 zip code has the highest median property tax rate of 1.16%, while the 04062 zip code has the lowest median tax rate of 1.16%. Understanding how these cities compare with Windham 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 Windham Tax Rate
1.16%
Average Cumberland County Tax Rate
1.52%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Windham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04062 | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% |
| 04082 | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Windham, Maine
In Windham, 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 Windham, 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 highest median tax bill in Windham is $4,082 in the 04062 zip code, while the lowest is $3,431 in the 04082 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Windham Assessed Value
$351,400
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 Windham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04062 | $235,770 | $282,600 | $351,400 | $445,300 | $559,770 |
| 04082 | $258,600 | $274,800 | $295,500 | $338,975 | $396,170 |
Source: Ownwell
Property Tax Bills Across Windham, Maine
In Windham, Cumberland County, ME, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of the property. This value is then multiplied by the tax rate to determine the annual property tax bill. For example, with a median home price of $351,400, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors such as property improvements, neighborhood trends, and market conditions can influence the assessed value. Homeowners in Windham face a range of tax bills, with the 25th percentile at $3,287 and the 75th percentile at $5,172. The highest median tax bill in the area is $4,082, while the lowest is $3,431. These property taxes are crucial for funding local services such as schools, infrastructure, and public safety, directly impacting the quality of life for residents.
Average Windham Tax Bill
$4,082
Average Cumberland County Tax Bill
$4,856
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Windham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04062 | $2,740 | $3,287 | $4,082 | $5,172 | $6,518 |
| 04082 | $3,002 | $3,190 | $3,431 | $3,936 | $4,600 |
Source: Ownwell