Herseytown Twp, Maine Property Taxes
The median property tax rate in HERSEYTOWN TWP, ME is 0.83%, notably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in HERSEYTOWN TWP at $138,710, the typical annual property tax bill amounts to $1,162, which is below the national median of $2,690. Property taxes in HERSEYTOWN TWP are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding HERSEYTOWN 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 HERSEYTOWN TWP 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
Herseytown Twp, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,151
Ownwell’s HERSEYTOWN TWP Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HERSEYTOWN TWP with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HERSEYTOWN 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 Herseytown Twp, Maine
Property taxes in HERSEYTOWN TWP, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in HERSEYTOWN TWP is 0.83%, lower than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within HERSEYTOWN TWP set these rates annually, and they can vary significantly across different neighborhoods. Each year, HERSEYTOWN 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 HERSEYTOWN TWP's effective property tax rate to other counties in Maine and the national median. For comparison, the 04777 zip code has the highest median property tax rate of 0.83%, while the 04777 zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with HERSEYTOWN 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 Herseytown 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 Herseytown Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04777 | 0.83% | 0.83% | 0.83% | 0.83% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Herseytown Twp, Maine
In Herseytown Twp, 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 Herseytown 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. Being aware of these valuation processes in Herseytown Twp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 04777, both valued at $1,162.
Average Herseytown Twp Assessed Value
$138,710
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 Herseytown Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04777 | $42,590 | $90,388 | $138,710 | $220,195 | $242,441 |
Source: Ownwell
Property Tax Bills Across Herseytown Twp, Maine
Property tax bills in Herseytown Township, located in Penobscot County, Maine, are calculated based on the assessed value of a property and the local tax rate. The median home price in this area is $138,710. The tax rate is applied to the assessed value to determine the annual tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. Homeowners in Herseytown Township see a range of tax bills, with the 25th percentile at $746 and the 75th percentile at $1855. At the 90th percentile, tax bills can reach up to $2156. These property taxes fund essential local services, including schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in this region experience varying tax burdens depending on their property's assessed value. Understanding these factors can help homeowners anticipate their annual property tax obligations and better manage their finances.
Average Herseytown Twp Tax Bill
$1,162
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Herseytown Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04777 | $352 | $746 | $1,162 | $1,855 | $2,156 |
Source: Ownwell