Sidney, Maine Property Taxes
The median property tax rate in Sidney, ME is 0.80%, which is notably lower than both the national median of 0.99% and the Maine state median of 1.57%. With a median home value in Sidney of $257,700, the typical annual property tax bill amounts to $2,053, falling short of the national median of $2,690. Property taxes in Sidney are calculated based on the tax assessed value, which often is less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Sidney'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 Sidney or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sidney, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,062
Ownwell’s Sidney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sidney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sidney 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 Sidney, Maine
Property taxes in Sidney, Maine, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Sidney is 1.20%, higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Sidney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sidney 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 Sidney's effective property tax rate to other counties in Maine and the national median. For comparison, the 04330 zip code has the highest median property tax rate of 1.20%, while the same 04330 zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Sidney 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 Sidney Tax Rate
0.80%
Average Kennebec County Tax Rate
1.72%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sidney, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04330 | 0.79% | 0.79% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Sidney, Maine
In Sidney, 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 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. Assessment notices in Sidney 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 Sidney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Sidney are both $2,053, found in the 04330 zip code.
Average Sidney Assessed Value
$257,700
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 Sidney, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04330 | $144,020 | $190,750 | $257,700 | $329,100 | $418,460 |
Source: Ownwell
Property Tax Bills Across Sidney, Maine
Property tax bills in Sidney, located in Kennebec County, ME, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the municipal assessor, who evaluates the property based on various factors such as market conditions, property size, and improvements. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Sidney, the median home price is $257,700, and property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $1,520 annually, while those in the 75th percentile see bills closer to $2,632. The top 10% of taxpayers face even higher bills, reaching up to $3,399. These figures highlight the range of property tax burdens that can impact homeowners, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, homeowners in Sidney may find their tax obligations either higher or lower depending on their specific circumstances.
Average Sidney Tax Bill
$2,053
Average Kennebec County Tax Bill
$2,685
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Sidney, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04330 | $1,146 | $1,520 | $2,053 | $2,632 | $3,399 |
Source: Ownwell