Appleton, Maine Property Taxes
The median property tax rate in Appleton, ME is 2.15%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Appleton, the typical annual property tax bill reaches $3,423, exceeding the national median of $2,690. Property taxes in Appleton 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 Appleton'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 Appleton 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
Appleton, 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 Appleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Appleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Appleton 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 Appleton, Maine
Property taxes in Appleton, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Appleton is 1.09%, which is higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Appleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Appleton 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 Appleton's effective property tax rate to other counties in Maine and the national median. For comparison, the 04862 zip code has the highest median property tax rate of 1.09%, while the 04862 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Appleton provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Appleton Tax Rate
2.15%
Average Knox County Tax Rate
1.55%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Appleton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04862 | 2.15% | 2.15% | 2.15% | 2.15% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Appleton, Maine
In Appleton, 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 Knox 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 Appleton, 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 Appleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 04862, with a tax bill of $3,423.
Average Appleton Assessed Value
$159,200
Average Knox County Assessed Value
$198,500
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Appleton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04862 | $85,100 | $117,050 | $159,200 | $208,650 | $269,360 |
Source: Ownwell
Property Tax Bills Across Appleton, Maine
Property tax bills in Appleton, Knox County, ME, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as property size, location, and improvements are considered in the assessment process. Homeowners in Appleton can expect a median property tax bill of $3,423, which is significantly higher than the national median property tax rate of 0.99%. The tax bill can vary widely, with the 25th percentile at $2,516 and the 75th percentile reaching $4,486. At the 90th percentile, tax bills can soar to $5,791. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services. For homeowners, understanding how their property tax bill is calculated helps in financial planning and anticipating annual expenses.
Average Appleton Tax Bill
$3,423
Average Knox County Tax Bill
$3,340
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Appleton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04862 | $1,830 | $2,516 | $3,423 | $4,486 | $5,791 |
Source: Ownwell