Burlington, Maine Property Taxes
The median property tax rate in Burlington, ME is 0.83%, which is lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Burlington at $114,190, the typical annual property tax bill is around $943, significantly below the national median of $2,690. Property taxes in Burlington 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 Burlington'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 Burlington or another part of Penobscot County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burlington, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$948
Ownwell’s Burlington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burlington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burlington 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 Burlington, Maine
Property taxes in Burlington, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burlington is 0.83%, lower than the U.S. national median of 0.99%. Local government entities within Burlington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burlington 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 Burlington's effective property tax rate to other counties in Maine and the national median. For comparison, the 04417 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these cities compare with Burlington provides valuable insights into the varying tax landscape across Penobscot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burlington Tax Rate
0.83%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burlington, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04417 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Burlington, Maine
In Burlington, 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 Penobscot 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 Burlington, 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 median home price in Burlington is $114,190, with tax bills ranging from $684 at the 25th percentile to $1,024 at the 90th percentile. The highest and lowest median tax bills both stand at $943 in the 04417 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Burlington Assessed Value
$114,190
Average Penobscot County Assessed Value
$141,580
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burlington, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04417 | $63,926 | $82,775 | $114,190 | $120,300 | $123,966 |
Source: Ownwell
Property Tax Bills Across Burlington, Maine
In Burlington, ME, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Penobscot County, the median home price is $114,190. Property tax bills in Burlington vary, with the 25th percentile tax bill at $684 and the 75th percentile at $994. The 90th percentile tax bill reaches $1,024. Factors that influence the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Burlington face a median tax bill of $943, which is relatively high compared to the national median property tax rate of 0.99%. This can impact homeowners by increasing the overall cost of homeownership, potentially affecting their financial planning and budgeting. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average Burlington Tax Bill
$943
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Burlington, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04417 | $528 | $684 | $943 | $994 | $1,024 |
Source: Ownwell