Chelsea, Maine Property Taxes
The median property tax rate in Chelsea, ME is 1.69%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Chelsea, the typical annual property tax bill reaches $2,303, which is below the national median of $2,690. Property taxes in Chelsea 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 Chelsea'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 Chelsea 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
Chelsea, 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 Chelsea Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chelsea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chelsea 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 Chelsea, Maine
Property taxes in Chelsea, Maine, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Chelsea is 1.69%, significantly higher than the U.S. national median of 0.99%. Local government entities within Chelsea set these rates annually, and they can vary across different neighborhoods. Each year, Chelsea 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 Chelsea's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04330 has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these areas compare with Chelsea provides valuable insights into the varying tax landscape across Kennebec County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chelsea Tax Rate
1.69%
Average Kennebec County Tax Rate
1.72%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chelsea, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04330 | 1.69% | 1.69% | 1.69% | 1.69% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Chelsea, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Chelsea, Maine. 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 Kennebec 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 Chelsea, 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 Chelsea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chelsea is $136,192, with the median tax bill ranging from $1,687 at the 25th percentile to $3,909 at the 90th percentile. The highest and lowest median tax bills are both $2,303, found in the 04330 zip code.
Average Chelsea Assessed Value
$136,192
Average Kennebec County Assessed Value
$154,165
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chelsea, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04330 | $67,059 | $99,750 | $136,192 | $180,674 | $231,690 |
Source: Ownwell
Property Tax Bills Across Chelsea, Maine
In Chelsea, Kennebec 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 and reflects the market value of the property. To calculate the tax bill, the assessed value is multiplied by the local tax rate. For example, with a median home price of $136,192, homeowners can expect a tax bill that varies significantly depending on their property's assessed value and specific circumstances. Several factors influence the tax bill, including property size, location, and any improvements made to the home. For instance, tax bills in the 25th percentile are around $1,687, while those in the 75th percentile reach approximately $3,049. The 90th percentile sees tax bills as high as $3,909. This variability means that homeowners in Chelsea need to be mindful of changes in their property's assessed value and any adjustments in the local tax rate, as these can significantly impact their annual tax obligations.
Average Chelsea Tax Bill
$2,303
Average Kennebec County Tax Bill
$2,685
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Chelsea, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04330 | $1,160 | $1,687 | $2,303 | $3,049 | $3,909 |
Source: Ownwell