Cathance Twp, Maine Property Taxes
The median property tax rate in Cathance Township, ME is 0.85%, notably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Cathance Township at $184,400, the typical annual property tax bill amounts to $1,567, which is below the national median of $2,690. Property taxes in Cathance Township are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Cathance Township'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 Cathance Township or another part of Washington County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cathance Twp, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,567
Ownwell’s Cathance Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cathance Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cathance Twp 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 Cathance Twp, Maine
Property taxes in Cathance Township, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cathance Township is 0.85%, lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Cathance Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cathance Township 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 Cathance Township's effective property tax rate to other areas in Maine and the national median. For comparison, the 04657 zip code has both the highest and lowest median property tax rate of 0.85%. Understanding how these areas compare with Cathance Township provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cathance Twp Tax Rate
0.85%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cathance Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04657 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Cathance Twp, Maine
In Cathance Twp, 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 Washington 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 Cathance Twp, 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 Cathance Twp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the region is $1,567 in the 04657 zip code, which also has the lowest median tax bill at the same value.
Average Cathance Twp Assessed Value
$184,400
Average Washington County Assessed Value
$97,800
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cathance Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04657 | $112,360 | $129,525 | $184,400 | $227,788 | $274,050 |
Source: Ownwell
Property Tax Bills Across Cathance Twp, Maine
In Cathance Township, Washington County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this region is $184,400, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's assessed value, which may differ from its market value, and any applicable exemptions or deductions. For a clearer picture, the 25th percentile tax bill is $1,101, while the 75th percentile tax bill is $1,936, with the 90th percentile reaching up to $2,329. These figures indicate that property tax bills can vary significantly depending on the specific attributes and assessed value of the property. Compared to the national median property tax rate of 0.99%, the tax burden in Cathance Township can be substantial, affecting homeowners by adding a notable annual expense. This variability underscores the importance of understanding local tax assessments and potential exemptions to manage property tax liabilities effectively.
Average Cathance Twp Tax Bill
$1,567
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Cathance Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04657 | $955 | $1,101 | $1,567 | $1,936 | $2,329 |
Source: Ownwell