Jackson, Maine Property Taxes
The median property tax rate in Jackson, ME is 1.75%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Jackson, the typical annual property tax bill reaches $2,211, which is below the national median of $2,690. Property taxes in Jackson 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 Jackson'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 Jackson 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
Jackson, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$2,205
Ownwell’s JACKSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in JACKSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in JACKSON 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 Jackson, Maine
Property taxes in JACKSON, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in JACKSON is 1.75%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within JACKSON set these rates annually, and they can vary significantly across different neighborhoods. Each year, JACKSON 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 JACKSON's effective property tax rate to other counties in Maine and the national median. For comparison, the 04921 zip code has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these areas compare with JACKSON provides valuable insights into the varying tax landscape across Waldo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jackson Tax Rate
1.75%
Average Waldo County Tax Rate
1.74%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jackson, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04921 | 1.75% | 1.75% | 1.75% | 1.76% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Jackson, Maine
In Jackson, 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 Waldo 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 Jackson, 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 Jackson stands at $126,009, with tax bills ranging from $1,432 at the 25th percentile to $4,096 at the 90th percentile. Notably, the zip code 04921 has both the highest and lowest median tax bill at $2,211. 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 Jackson Assessed Value
$126,009
Average Waldo County Assessed Value
$154,000
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jackson, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04921 | $46,251 | $81,579 | $126,009 | $170,903 | $233,378 |
Source: Ownwell
Property Tax Bills Across Jackson, Maine
In Jackson, property tax bills are a crucial financial consideration for homeowners. These bills are determined based on the assessed value of a property, which is derived from the market value. Jackson's property tax rate is notably higher than the national median property tax rate of 0.99%. This means that homeowners in Jackson can expect to pay a significant amount in property taxes each year. Several factors influence the final tax bill, including the assessed value of the home and the local tax rate. For instance, the median home price in Jackson is $126,009. Tax bills in the 25th percentile are around $1,432, while those in the 75th percentile reach up to $2,999. For the top 10% of homes, tax bills can soar to $4,096. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in Jackson. Homeowners must budget for these taxes to avoid financial strain and ensure they can maintain their property and lifestyle.
Average Jackson Tax Bill
$2,211
Average Waldo County Tax Bill
$2,632
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Jackson, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04921 | $812 | $1,432 | $2,211 | $2,999 | $4,096 |
Source: Ownwell