Eastbrook, Maine Property Taxes
The median property tax rate in Eastbrook, ME is 1.60%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Eastbrook, the typical annual property tax bill reaches $2,068, which is below the national median of $2,690. Property taxes in Eastbrook 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 Eastbrook'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 Eastbrook or another part of Hancock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eastbrook, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$2,068
Ownwell’s Eastbrook Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Eastbrook. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Eastbrook to provide an estimate of your property tax bill. This powerful tool offers a clear understanding of potential tax liabilities, helping you make informed decisions. For those interested in more localized information, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Eastbrook, Maine
Property taxes in Eastbrook, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eastbrook is 1.60%, significantly higher than the U.S. national median of 0.99%. Local government entities within Eastbrook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eastbrook 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 Eastbrook's effective property tax rate to other counties in Maine and the national median. For comparison, the 04634 zip code has the highest median property tax rate of 1.60%, while the same zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with Eastbrook 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 Eastbrook Tax Rate
1.60%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastbrook, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04634 | 1.60% | 1.60% | 1.60% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Eastbrook, Maine
In Eastbrook, 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 Assessment Office 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 Eastbrook, 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 Eastbrook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Eastbrook is $129,250, with the 25th percentile tax bill at $1,255 and the 75th percentile tax bill at $2,994. The highest and lowest median tax bills are both $2,068, found in zip code 04634.
Average Eastbrook Assessed Value
$129,250
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 Eastbrook, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04634 | $50,100 | $78,425 | $129,250 | $187,100 | $233,310 |
Source: Ownwell
Property Tax Bills Across Eastbrook, Maine
In Eastbrook, located in Hancock County, ME, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and reflects the market value of the property. Homeowners in Eastbrook face property tax bills that vary widely, with the 25th percentile tax bill at $1,255 and the 75th percentile at $2,994. For those in the 90th percentile, the tax bill can reach up to $3,733. The tax rate in Eastbrook is influenced by local budgetary needs, including funding for schools, infrastructure, and public services. This rate is applied to the assessed value of the property to determine the final tax bill. For instance, the highest median tax bill in the area is $2,068, found in the 04634 zip code. These property taxes significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Comparatively, Eastbrook's property tax rates are reflective of the broader regional and national trends, with the national median property tax rate standing at 0.99%.
Average Eastbrook Tax Bill
$2,068
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastbrook, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04634 | $802 | $1,255 | $2,068 | $2,994 | $3,733 |
Source: Ownwell