Coplin Plt, Maine Property Taxes
The median property tax rate in Coplin Plt, ME is 1.12%, slightly higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Coplin Plt at $189,000, the typical annual property tax bill reaches $2,117, which is below the national median of $2,690. Property taxes in Coplin Plt are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Coplin Plt'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 Coplin Plt 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
Coplin Plt, 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 Coplin Plt Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Coplin Plt with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Coplin Plt to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized information, trends at the neighborhood level are available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Coplin Plt, Maine
Property taxes in Coplin Plt, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coplin Plt is 1.12%, significantly higher than the U.S. national median of 0.99%. Local government entities within Coplin Plt set these rates annually, and they can vary across different neighborhoods. Each year, Coplin Plt 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 Coplin Plt's effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 04970 has both the highest and lowest median property tax rate of 1.12%. Understanding how these areas compare with Coplin Plt provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coplin Plt Tax Rate
1.12%
Average Franklin County Tax Rate
1.80%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coplin Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04970 | 1.12% | 1.12% | 1.12% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Coplin Plt, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Coplin Plt, 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 local assessors 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 Coplin Plt, 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 Coplin Plt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $189,000, with tax bills ranging from $2,009 at the 25th percentile to $3,315 at the 90th percentile. The highest and lowest median tax bill is $2,117 in ZIP code 04970.
Average Coplin Plt Assessed Value
$189,000
Average Franklin County Assessed Value
$119,100
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coplin Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04970 | $170,580 | $179,340 | $189,000 | $224,425 | $295,930 |
Source: Ownwell
Property Tax Bills Across Coplin Plt, Maine
Property tax bills in Coplin Plt, Franklin County, ME, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. This valuation is then multiplied by the local tax rate to determine the annual tax bill. In Coplin Plt, the median home price is $189,000, which influences the tax bills significantly. For instance, homeowners in the 25th percentile can expect a tax bill around $2,009, while those in the 75th percentile might see bills closer to $2,514. At the higher end, the 90th percentile tax bill reaches approximately $3,315. These figures are notably higher than the national median property tax rate of 0.99%, highlighting the impact on homeowners in this region. Understanding these factors is crucial for homeowners as it helps them anticipate their annual financial obligations and plan accordingly.
Average Coplin Plt Tax Bill
$2,117
Average Franklin County Tax Bill
$1,981
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Coplin Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04970 | $1,911 | $2,009 | $2,117 | $2,514 | $3,315 |
Source: Ownwell