Hiram, Maine Property Taxes
The median property tax rate in Hiram, ME is 1.47%, which is higher than the national median of 0.99% but slightly below the Maine state median of 1.57%. With a median home value of $144,760 in Hiram, the typical annual property tax bill amounts to $2,130, still less than the national median of $2,690. Property taxes in Hiram are based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Hiram'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 Hiram or another part of Oxford County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hiram, 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 Hiram Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hiram with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hiram 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 Hiram, Maine
Property taxes in Hiram, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hiram is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hiram set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hiram 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 Hiram's effective property tax rate to other areas in Maine and the national median. For comparison, the 04041 zip code has the highest median property tax rate of 1.47%, while the same 04041 zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Hiram 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 Hiram Tax Rate
1.47%
Average Oxford County Tax Rate
1.50%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hiram, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04041 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Hiram, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hiram, ME. 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 Hiram, 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. For instance, the zip code 04041 has the highest and lowest median tax bill at $2,130. 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 Hiram helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hiram Assessed Value
$144,760
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 Hiram, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04041 | $80,170 | $112,178 | $144,760 | $192,482 | $241,040 |
Source: Ownwell
Property Tax Bills Across Hiram, Maine
In Hiram, located in Oxford County, ME, property tax bills are calculated based on the assessed value of a home. The median home price in Hiram is $144,760. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property location, market conditions, and any applicable exemptions are considered in the assessment process. Homeowners in Hiram experience varying tax burdens, with the 25th percentile tax bill at $1,651 and the 75th percentile at $2,833. For those in the 90th percentile, tax bills can reach up to $3,548. The highest and lowest median tax bills in the area are both $2,130, indicating a relatively uniform property tax landscape within Hiram's zip code 04041. Compared to the national median property tax rate of 0.99%, Hiram’s property tax bills reflect the unique economic and real estate conditions of Oxford County, impacting homeowners' financial planning and overall cost of living.
Average Hiram Tax Bill
$2,130
Average Oxford County Tax Bill
$2,200
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Hiram, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04041 | $1,180 | $1,651 | $2,130 | $2,833 | $3,548 |
Source: Ownwell