Starks, Maine Property Taxes
The median property tax rate in Starks, ME is 1.27%, considerably higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Starks, the typical annual property tax bill reaches $1,115, which is below the national median of $2,690. Property taxes in Starks 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 Starks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Starks 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
Starks, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$1,115
Ownwell’s Starks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Starks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Starks 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 Starks, Maine
Property taxes in Starks, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Starks is 1.27%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Starks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Starks 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 Starks' effective property tax rate to other counties in Maine and the national median. For comparison, the 04911 zip code has the highest median property tax rate of 1.27%, while the 04911 zip code has the lowest median tax rate of 1.27%. Understanding how these cities compare with Starks 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 Starks Tax Rate
1.27%
Average Somerset County Tax Rate
1.77%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Starks, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04911 | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Starks, Maine
In Starks, 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 Starks, 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. The median home price in Starks is $87,780, with tax bills ranging from $754 at the 25th percentile to $2,284 at the 90th percentile. The zip code 04911 has both the highest and lowest median tax bill, valued at $1,115. Being aware of these valuation processes in Starks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Starks Assessed Value
$87,780
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 Starks, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04911 | $40,204 | $59,315 | $87,780 | $130,730 | $179,796 |
Source: Ownwell
Property Tax Bills Across Starks, Maine
In Starks, Somerset County, ME, property tax bills are calculated based on the assessed value of a home, which reflects its fair market value. The local tax rate, known as the mill rate, is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $87,780, homeowners can expect their property tax bills to vary significantly. Factors influencing the tax bill include property characteristics, location, and local government budgets. In Somerset County, the tax bill at the 25th percentile is $754, while at the 75th percentile, it rises to $1,662. The highest median tax bill in the area is $1,115, found in the 04911 zip code. Comparatively, the national median property tax rate is 0.99%, making Starks' rates relatively moderate. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners should be aware of these factors to better understand their financial obligations and community contributions.
Average Starks Tax Bill
$1,115
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Starks, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04911 | $510 | $754 | $1,115 | $1,662 | $2,284 |
Source: Ownwell