Lake View Plt, Maine Property Taxes
The median property tax rate in Lake View Plt, ME is 0.29%, significantly lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Lake View Plt at $257,200, the typical annual property tax bill reaches $758, well below the national median of $2,690. Property taxes in Lake View Plt 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 Lake View Plt'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 Lake View Plt 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
Lake View Plt, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$746
Ownwell’s LAKE VIEW PLT Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in LAKE VIEW PLT with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in LAKE VIEW PLT to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed insights, neighborhood-level trends are available further down the page. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Lake View Plt, Maine
Property taxes in LAKE VIEW PLT, Maine, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in LAKE VIEW PLT is 0.29%, which is significantly lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within LAKE VIEW PLT set these rates annually, and they can vary significantly across different neighborhoods. Each year, LAKE VIEW PLT 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 LAKE VIEW PLT's effective property tax rate to other counties in Maine and the national median. Understanding how these cities compare with LAKE VIEW PLT 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 Lake View Plt Tax Rate
0.29%
Average Piscataquis County Tax Rate
2.00%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake View Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04463 | 0.29% | 0.29% | 0.29% | 0.30% | 0.30% |
Source: Ownwell
Property Tax Assessment Values Across Lake View Plt, Maine
In LAKE VIEW PLT, 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 LAKE VIEW PLT, 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. The median home price in this area is $257,200. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip code 04463 has both the highest and lowest median tax bill at $758. Being aware of these valuation processes in LAKE VIEW PLT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lake View Plt Assessed Value
$257,200
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 Lake View Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04463 | $128,710 | $223,975 | $257,200 | $337,550 | $504,350 |
Source: Ownwell
Property Tax Bills Across Lake View Plt, Maine
In Lake View Plt, Piscataquis County, ME, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value of the property. For instance, with a median home price of $257,200, the property tax rate applied will determine the final tax bill. Factors such as property location, size, and improvements are considered in the assessment process. Homeowners in Lake View Plt can expect their property tax bills to vary. At the 25th percentile, the tax bill is around $661, while at the 75th percentile, it rises to $996. For those at the 90th percentile, the tax bill can reach up to $1488. These figures show a range of tax burdens depending on the property's assessed value. Compared to the national median property tax rate of 0.99%, Lake View Plt homeowners experience a diverse range of tax bills, reflecting the unique characteristics and values of their properties. This variability significantly impacts homeowners' annual budgets and financial planning.
Average Lake View Plt Tax Bill
$758
Average Piscataquis County Tax Bill
$1,766
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake View Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04463 | $380 | $661 | $758 | $996 | $1,488 |
Source: Ownwell