Greenfield Twp, Maine Property Taxes
The median property tax rate in Greenfield Twp, 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 Greenfield Twp, the typical annual property tax bill is $858, significantly less than the national median of $2,690. Property taxes in Greenfield Twp are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Greenfield Twp'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 Greenfield Twp 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
Greenfield Twp, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$862
Ownwell’s Greenfield Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenfield Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenfield Twp 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 Greenfield Twp, Maine
Property taxes in Greenfield Twp, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenfield Twp is 0.83%, which is lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Greenfield Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenfield Twp 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 Greenfield Twp's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04418 has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these areas compare with Greenfield Twp 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 Greenfield Twp 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 Greenfield Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04418 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Greenfield Twp, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Greenfield Twp, Penobscot County, 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 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 Greenfield Twp, 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. For instance, the median home price in Greenfield Twp is $103,855, with tax bills ranging from the 25th percentile at $457 to the 90th percentile at $1,603. Being aware of these valuation processes in Greenfield Twp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenfield Twp Assessed Value
$103,855
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 Greenfield Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04418 | $38,888 | $55,325 | $103,855 | $137,485 | $194,092 |
Source: Ownwell
Property Tax Bills Across Greenfield Twp, Maine
In Greenfield Township, Penobscot County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $103,855, the tax bills can vary significantly. Homeowners in the 25th percentile pay around $457, while those in the 75th percentile see bills of about $1,135. At the 90th percentile, tax bills can reach up to $1,603. The highest median tax bill in the area is $858, which is notably below the national median property tax rate of 0.99%. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting homeowners and the community. By understanding these factors, homeowners can better anticipate their financial obligations and the benefits derived from their tax contributions.
Average Greenfield Twp Tax Bill
$858
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenfield Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04418 | $321 | $457 | $858 | $1,135 | $1,603 |
Source: Ownwell