Edinburg, Maine Property Taxes
The median property tax rate in Edinburg, ME is 2.20%, significantly higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Edinburg at $28,180, the typical annual property tax bill reaches $621, surpassing the national median of $2,690. Property taxes in Edinburg 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 Edinburg'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 Edinburg 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
Edinburg, 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 Edinburg Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Edinburg with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Edinburg to provide an estimated property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Edinburg, Maine
Property taxes in Edinburg, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edinburg is 2.20%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Edinburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edinburg 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 Edinburg's effective property tax rate to other areas in Maine and the national median. For comparison, the 04448 zip code has both the highest and lowest median property tax rate of 2.20%. Understanding how these areas compare with Edinburg 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 Edinburg Tax Rate
2.20%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edinburg, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04448 | 2.20% | 2.20% | 2.20% | 2.20% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Edinburg, Maine
In Edinburg, 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. 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 Edinburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Edinburg are both $621, found in the 04448 zip code.
Average Edinburg Assessed Value
$28,180
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 Edinburg, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04448 | $28,180 | $28,180 | $28,180 | $28,180 | $28,180 |
Source: Ownwell
Property Tax Bills Across Edinburg, Maine
In Edinburg, Penobscot County, ME, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate the property’s market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Edinburg, the median home price is $28,180, and the property tax rate is applied uniformly across different percentiles, resulting in a consistent tax bill of $621 for the 25th, 75th, and 90th percentiles. This uniformity simplifies tax calculations but can impact homeowners differently depending on their property’s market value. For instance, while the national median property tax rate is 0.99%, local variations mean that homeowners in Edinburg might experience a different financial burden compared to other regions. Understanding how these factors interplay helps homeowners anticipate their annual expenses, ensuring better financial planning and stability.
Average Edinburg Tax Bill
$621
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Edinburg, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04448 | $621 | $621 | $621 | $621 | $621 |
Source: Ownwell