Moscow, Maine Property Taxes
The median property tax rate in Moscow, ME is 1.23%, which is significantly higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With a median home value of $105,220 in Moscow, the typical annual property tax bill amounts to $1,302, still below the national median of $2,690. Property taxes in Moscow are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Moscow'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 Moscow or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moscow, 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 Moscow Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Moscow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moscow to provide an estimate of 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 Somerset County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Moscow, Maine
Property taxes in Moscow, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moscow is 1.23%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Moscow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moscow 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 Moscow's effective property tax rate to other counties in Maine and the national median. For comparison, the 04920 zip code has the highest median property tax rate of 1.23%, while the 04920 zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Moscow provides valuable insights into the varying tax landscape across Somerset, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moscow Tax Rate
1.23%
Average Somerset County Tax Rate
1.77%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moscow, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04920 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Moscow, Maine
In Moscow, 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 Somerset 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 Moscow, 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 Moscow 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 bills is 04920, with a median tax bill of $1,302.
Average Moscow Assessed Value
$105,220
Average Somerset County Assessed Value
$105,900
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moscow, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04920 | $46,883 | $69,872 | $105,220 | $147,722 | $200,309 |
Source: Ownwell
Property Tax Bills Across Moscow, Maine
In Moscow, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. Homeowners in Somerset County can expect varying tax bills, with the 25th percentile at $932 and the 75th percentile reaching $1820. Those in the 90th percentile may see tax bills as high as $2468. For a home with a median price of $105,220, the property tax rate plays a significant role in determining the final bill. Compared to the national median property tax rate of 0.99%, Moscow's rates may seem relatively moderate but can still impact household budgets significantly. The highest and lowest median tax bills in the area are both recorded at $1302, specifically in the 04920 zip code. These taxes fund essential public services like schools, infrastructure, and emergency services, directly affecting the quality of life for homeowners.
Average Moscow Tax Bill
$1,302
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Moscow, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04920 | $583 | $932 | $1,302 | $1,820 | $2,468 |
Source: Ownwell