Fryeburg, Maine Property Taxes
The median property tax rate in Fryeburg, ME is 1.65%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Fryeburg, the typical annual property tax bill reaches $2,899, exceeding the national median of $2,690. Property taxes in Fryeburg 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 Fryeburg'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 Fryeburg 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
Fryeburg, 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 Fryeburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fryeburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fryeburg 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 Fryeburg, Maine
Property taxes in Fryeburg, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fryeburg is 1.65%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Fryeburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fryeburg 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 Fryeburg's effective property tax rate to other areas and the national median. For comparison, the 04037 zip code has the highest median property tax rate of 1.65%, while the same zip code also has the lowest median tax rate of 1.65%. Understanding how these areas compare with Fryeburg provides valuable insights into the varying tax landscape across Oxford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fryeburg Tax Rate
1.65%
Average Oxford County Tax Rate
1.50%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fryeburg, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04037 | 1.65% | 1.65% | 1.65% | 1.65% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Fryeburg, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fryeburg, 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 Oxford 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 Fryeburg, 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 Fryeburg is $175,700, with tax bills ranging from $2,186 at the 25th percentile to $5,266 at the 90th percentile. 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 Fryeburg Assessed Value
$175,700
Average Oxford County Assessed Value
$138,018
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fryeburg, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04037 | $87,400 | $132,450 | $175,700 | $240,950 | $319,170 |
Source: Ownwell
Property Tax Bills Across Fryeburg, Maine
In Fryeburg, located in Oxford County, ME, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is intended to reflect the market value of the property. To calculate the tax bill, the assessed value is multiplied by the local property tax rate. Several factors influence the assessed value, including the property's location, size, age, and condition. For Fryeburg homeowners, the median home price is $175,700. Property taxes can vary significantly, with the 25th percentile tax bill at $2,186 and the 75th percentile at $3,976. For those in the 90th percentile, the tax bill can be as high as $5,266. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Fryeburg's rates reflect the region's specific needs and property values, impacting homeowners' annual expenses accordingly.
Average Fryeburg Tax Bill
$2,899
Average Oxford County Tax Bill
$2,200
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Fryeburg, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04037 | $1,442 | $2,186 | $2,899 | $3,976 | $5,266 |
Source: Ownwell