Frenchboro, Maine Property Taxes
The median property tax rate in Frenchboro, ME is 1.40%, which is considerably higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Frenchboro at $172,350, the typical annual property tax bill reaches $2,413, falling below the national median of $2,690. Property taxes in Frenchboro 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 Frenchboro'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 Frenchboro 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
Frenchboro, 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 Frenchboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frenchboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frenchboro 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 Frenchboro, Maine
Property taxes in Frenchboro, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frenchboro is 1.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Frenchboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frenchboro 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 Frenchboro's effective property tax rate to other areas in Hancock County and the national median. For comparison, the zip code 04635 has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these areas compare with Frenchboro 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 Frenchboro Tax Rate
1.40%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frenchboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04635 | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Frenchboro, Maine
In Frenchboro, 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 Frenchboro, 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. For instance, the median home price in Frenchboro is $172,350. The tax bills range from $1,863 at the 25th percentile to $2,886 at the 90th percentile. The highest and lowest median tax bills are both $2,413 in the 04635 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Frenchboro Assessed Value
$172,350
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 Frenchboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04635 | $116,380 | $133,100 | $172,350 | $199,425 | $206,120 |
Source: Ownwell
Property Tax Bills Across Frenchboro, Maine
In Frenchboro, located in Hancock County, ME, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local government assessors who evaluate the market value of your property. Once the assessed value is established, the local tax rate is applied to calculate your annual tax bill. Several factors influence the assessed value, including the size, location, and condition of your property. In Frenchboro, the median home price is $172,350. Homeowners in this area can expect a tax bill ranging from $1,863 at the 25th percentile to $2,792 at the 75th percentile, with the 90th percentile reaching up to $2,886. These property tax bills have a significant impact on homeowners, as they represent a recurring expense that must be budgeted for annually. Compared to the national median property tax rate of 0.99%, Frenchboro's property taxes can be relatively high, making it essential for homeowners to understand their tax obligations and plan accordingly.
Average Frenchboro Tax Bill
$2,413
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Frenchboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04635 | $1,629 | $1,863 | $2,413 | $2,792 | $2,886 |
Source: Ownwell