Seal Harbor, Maine Property Taxes
The median property tax rate in Seal Harbor, ME is 0.87%, which is lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Seal Harbor at $715,500, the typical annual property tax bill reaches $6,239, significantly exceeding the national median of $2,690. Property taxes in Seal Harbor 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 Seal Harbor'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 Seal Harbor 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
Seal Harbor, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$6,225
Ownwell’s SEAL HARBOR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SEAL HARBOR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SEAL HARBOR 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 Seal Harbor, Maine
Property taxes in Seal Harbor, Maine, play a crucial role in funding essential local services, such as public schools, road maintenance, and emergency services. The median tax rate in Seal Harbor is 0.87%, which is below the U.S. national median of 0.99%. Local government entities within Seal Harbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seal Harbor 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 Seal Harbor's effective property tax rate to other areas in Hancock County and the national median. For comparison, the 04675 zip code has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these values compare with Seal Harbor 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 Seal Harbor Tax Rate
0.87%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seal Harbor, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04675 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Seal Harbor, Maine
In SEAL HARBOR, Maine, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. The market value is the amount a willing buyer would pay a willing seller in an open 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 SEAL HARBOR, 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. For instance, SEAL HARBOR's highest median tax bill is $6,239 in the 04675 zip code, which is significantly higher than the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Seal Harbor Assessed Value
$715,500
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 Seal Harbor, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04675 | $316,900 | $452,350 | $715,500 | $1,706,600 | $2,623,160 |
Source: Ownwell
Property Tax Bills Across Seal Harbor, Maine
In Seal Harbor, 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 town's assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $715,500, homeowners can expect varying tax bills. Factors such as property size, location, and improvements can influence assessments. In Seal Harbor, the tax bill at the 25th percentile is $3,944, while at the 75th percentile, it rises to $14,882. The tax bill at the 90th percentile can reach up to $22,874, reflecting the significant impact of property values on tax obligations. Comparatively, the national median property tax rate is 0.99%, making Seal Harbor's property taxes notably higher. This can affect homeowners by increasing the cost of ownership and potentially influencing decisions about buying or selling property in the area.
Average Seal Harbor Tax Bill
$6,239
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Seal Harbor, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04675 | $2,764 | $3,944 | $6,239 | $14,882 | $22,874 |
Source: Ownwell