Willimantic, Maine Property Taxes
The median property tax rate in Willimantic, ME is 0.93%, slightly below the national median of 0.99% and significantly lower than the Maine state median of 1.57%. With the median home value in Willimantic at $122,290, the typical annual property tax bill is $1,137, which is considerably less than the national median of $2,690. Property taxes in Willimantic are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Willimantic's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Willimantic or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Willimantic, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,137
Ownwell’s Willimantic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Willimantic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willimantic 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 Willimantic, Maine
Property taxes in Willimantic, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Willimantic is 1.09%, higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Willimantic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willimantic 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 Willimantic's effective property tax rate to other counties in Maine and the national median. For comparison, the 04443 zip code has the highest median property tax rate of 1.09%, while the 04443 zip code has the lowest median tax rate of 1.09%. Understanding how these cities compare with Willimantic 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 Willimantic Tax Rate
0.93%
Average Piscataquis County Tax Rate
2.00%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Willimantic, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04443 | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Willimantic, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Willimantic, 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 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 Willimantic, 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 Willimantic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Willimantic, the median home price is $122,290, with tax bills ranging from $598 at the 25th percentile to $2,181 at the 90th percentile. The highest and lowest median tax bills, both $1,137, are found in the 04443 zip code.
Average Willimantic Assessed Value
$122,290
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 Willimantic, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04443 | $48,650 | $64,345 | $122,290 | $188,855 | $234,434 |
Source: Ownwell
Property Tax Bills Across Willimantic, Maine
In Willimantic, located in Piscataquis County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. For instance, with a median home price of $122,290, homeowners can expect their property taxes to be influenced by this valuation. The tax bill is determined by multiplying the assessed value by the local tax rate, which is set by the local government to meet budgetary needs for public services such as schools, roads, and emergency services. Factors considered in determining the tax bill include the property's market value, any improvements made to the property, and applicable exemptions or deductions. Homeowners in Willimantic typically see tax bills ranging from $598 at the 25th percentile to $1,756 at the 75th percentile, with the highest tax bills reaching up to $2,181 at the 90th percentile. These property taxes can significantly impact homeowners' annual expenses, making it essential to understand how these bills are calculated and what factors may influence them.
Average Willimantic Tax Bill
$1,137
Average Piscataquis County Tax Bill
$1,766
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Willimantic, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04443 | $452 | $598 | $1,137 | $1,756 | $2,181 |
Source: Ownwell