Harborside, Maine Property Taxes
The median property tax rate in Harborside, ME is 0.68%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Harborside at $248,250, the typical annual property tax bill reaches $1,693, which is significantly below the national median of $2,690. Property taxes in Harborside 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 Harborside'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 Harborside 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
Harborside, 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 Harborside Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harborside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harborside 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 Harborside, Maine
Property taxes in Harborside, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harborside is 0.68%, lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Harborside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harborside 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 Harborside's effective property tax rate to other counties in Maine and the national median. For comparison, the 04642 zip code has the highest median property tax rate of 0.68%, while the 04642 zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Harborside 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 Harborside Tax Rate
0.68%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harborside, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04642 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Harborside, Maine
In Harborside, 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 Harborside, 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. The median home price in Harborside is $248,250. Homeowners in the 04642 zip code see a median tax bill of $1,693. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harborside Assessed Value
$248,250
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 Harborside, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04642 | $120,500 | $174,825 | $248,250 | $416,425 | $907,200 |
Source: Ownwell
Property Tax Bills Across Harborside, Maine
In Harborside, located in 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's office and reflects the market value of the property. The tax rate, often referred to as the mill rate, is applied to each $1,000 of assessed value to calculate the annual tax bill. Homeowners in Harborside can expect varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $1,192, while at the 75th percentile, it rises to $2,840. The 90th percentile tax bill reaches $6,188, indicating significant variation based on property value. The median home price in Harborside is $248,250, which impacts the overall tax burden. Compared to the national median property tax rate of 0.99%, Harborside's rates can be particularly impactful on homeowners, influencing their financial planning and long-term investment in the property.
Average Harborside Tax Bill
$1,693
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Harborside, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04642 | $822 | $1,192 | $1,693 | $2,840 | $6,188 |
Source: Ownwell