Dedham, Maine Property Taxes
The median property tax rate in Dedham, ME, is 1.58%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Dedham, the typical annual property tax bill reaches $3,180, exceeding the national median of $2,690. Property taxes in Dedham 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 Dedham'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 Dedham 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
Dedham, 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 Dedham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dedham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dedham 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 Dedham, Maine
Property taxes in Dedham, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dedham is 1.58%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Dedham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dedham 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 Dedham's effective property tax rate to other counties in Maine and the national median. For comparison, the 04429 zip code has the highest median property tax rate of 1.58%, while the 04429 zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Dedham provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dedham Tax Rate
1.58%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dedham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04429 | 1.58% | 1.58% | 1.58% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Dedham, Maine
In Dedham, 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 Hancock 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 Dedham, 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 Dedham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 04429 in Dedham holds both the highest and lowest median tax bill at $3,180.
Average Dedham Assessed Value
$192,800
Average Hancock County Assessed Value
$205,850
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dedham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04429 | $82,450 | $130,825 | $192,800 | $272,375 | $363,820 |
Source: Ownwell
Property Tax Bills Across Dedham, Maine
In Dedham, Hancock 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 local assessor and reflects the market value of the property. Homeowners in Dedham experience a range of property tax bills. For instance, the 25th percentile tax bill is $2,130, while the 75th percentile reaches $4,626. At the 90th percentile, homeowners can expect to pay around $6,181. These property tax bills are influenced by several factors, including property improvements, market conditions, and neighborhood trends. Comparatively, Dedham's property tax rate is higher than the national median of 0.99%, significantly impacting homeowners' annual expenses. The highest median tax bill in the area is $3,180, which is consistent across the zip code 04429. Homeowners must be aware of these factors as they can affect their financial planning and overall cost of homeownership.
Average Dedham Tax Bill
$3,180
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Dedham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04429 | $1,346 | $2,130 | $3,180 | $4,626 | $6,181 |
Source: Ownwell