Wesley, Maine Property Taxes
The median property tax rate in Wesley, ME is 1.38%, higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With a median home value of $87,150 in Wesley, the typical annual property tax bill amounts to $1,202, which is below the national median of $2,690. Property taxes in Wesley are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Wesley'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 Wesley 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
Wesley, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,203
Ownwell’s Wesley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wesley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wesley 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 Wesley, Maine
Property taxes in Wesley, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wesley is 1.38%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wesley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wesley 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 Wesley's effective property tax rate to other counties in Maine and the national median. For comparison, the 04686 zip code has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Wesley 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 Wesley Tax Rate
1.38%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wesley, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04686 | 1.38% | 1.38% | 1.38% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Wesley, Maine
In Wesley, 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 Wesley, 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 Wesley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 04686, with a median tax bill of $1,202.
Average Wesley Assessed Value
$87,150
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 Wesley, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04686 | $35,730 | $50,650 | $87,150 | $130,000 | $184,410 |
Source: Ownwell
Property Tax Bills Across Wesley, Maine
In Wesley, Washington County, ME, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Wesley, the median home price is $87,150. Property tax bills can vary significantly; at the 25th percentile, homeowners pay around $699, while those in the 75th percentile see bills closer to $1,794. The 90th percentile can reach up to $2,545. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Wesley’s rates can be relatively favorable, but the actual tax burden varies based on individual property assessments. Homeowners should be aware of these factors as they can significantly affect annual expenses and overall affordability of owning a home in Wesley.
Average Wesley Tax Bill
$1,202
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Wesley, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04686 | $493 | $699 | $1,202 | $1,794 | $2,545 |
Source: Ownwell