Barnard Twp, Maine Property Taxes
The median property tax rate in Barnard Twp, ME is 0.68%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Barnard Twp at $129,775, the typical annual property tax bill reaches $886, significantly below the national median of $2,690. Property taxes in Barnard Twp 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 Barnard 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 Barnard Twp or another part of Piscataquis County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barnard Twp, 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 Barnard Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barnard Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barnard 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 Barnard Twp, Maine
Property taxes in Barnard Twp, Maine, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Barnard Twp is 0.68%, which is lower than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Barnard Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barnard 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 Barnard Twp's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04414 has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with Barnard Twp provides valuable insights into the varying tax landscape across Piscataquis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barnard Twp Tax Rate
0.68%
Average Piscataquis County Tax Rate
2.00%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barnard Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04414 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Barnard Twp, Maine
In Barnard 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 Piscataquis 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 Barnard 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. For instance, the median home price in Barnard Twp is $129,775, with tax bills ranging significantly. The 25th percentile tax bill is $571, while the 75th percentile tax bill is $1,240, and the 90th percentile tax bill reaches $1,886. Interestingly, the highest and lowest median tax bills are both $886, found in the 04414 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 the tax burden.
Average Barnard Twp Assessed Value
$129,775
Average Piscataquis County Assessed Value
$100,500
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barnard Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04414 | $75,918 | $83,580 | $129,775 | $181,595 | $276,069 |
Source: Ownwell
Property Tax Bills Across Barnard Twp, Maine
In Barnard Township, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $129,775, homeowners in Barnard Township can expect varying tax bills. The 25th percentile tax bill is approximately $571, while the 75th percentile tax bill reaches around $1,240. At the higher end, the 90th percentile tax bill can be as much as $1,886. These figures indicate that property taxes can significantly impact homeowners, with the highest median tax bill in the area being $886. Compared to the national median property tax rate of 0.99%, the rates in Barnard Township reflect the local economic conditions and property values, influencing how much homeowners ultimately pay. This variability underscores the importance of understanding local property tax assessments and rates.
Average Barnard Twp Tax Bill
$886
Average Piscataquis County Tax Bill
$1,766
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Barnard Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04414 | $518 | $571 | $886 | $1,240 | $1,886 |
Source: Ownwell