Biddeford, Maine Property Taxes
The median property tax rate in Biddeford, ME is 1.64%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Biddeford at $274,700, the typical annual property tax bill reaches $4,508, exceeding the national median of $2,690. Property taxes in Biddeford 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 Biddeford'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 Biddeford 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
Biddeford, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$4,505
Ownwell’s Biddeford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Biddeford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Biddeford 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 Biddeford, Maine
Property taxes in Biddeford, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Biddeford is 1.64%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Biddeford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Biddeford 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 Biddeford's effective property tax rate to other counties in Maine and the national median. For comparison, the 04005 zip code has both the highest and lowest median property tax rate of 1.64%. Understanding how these cities compare with Biddeford provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Biddeford Tax Rate
1.64%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Biddeford, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04005 | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Biddeford, Maine
In Biddeford, 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 York 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 Biddeford, 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 Biddeford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Biddeford is $274,700, with tax bills ranging from $3,628 at the 25th percentile to $9,995 at the 90th percentile. The zip code 04005 has both the highest and lowest median tax bills at $4,508.
Average Biddeford Assessed Value
$274,700
Average York County Assessed Value
$307,400
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Biddeford, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04005 | $185,400 | $221,200 | $274,700 | $369,700 | $609,100 |
Source: Ownwell
Property Tax Bills Across Biddeford, Maine
In Biddeford, property tax bills are determined by the assessed value of the property and the local tax rate set by York County. The process starts with an assessment of the property's market value, which is then used to calculate the taxable value. This assessed value is multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Biddeford, the median home price is $274,700. Property tax bills can vary significantly, with the 25th percentile at $3,628 and the 75th percentile reaching $6,065. The 90th percentile tax bill is as high as $9,995, reflecting the range of property values in the area. Comparatively, the national median property tax rate is 0.99%, and Biddeford's property tax bills reflect a higher burden on homeowners. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances accordingly.
Average Biddeford Tax Bill
$4,508
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Biddeford, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04005 | $3,042 | $3,628 | $4,508 | $6,065 | $9,995 |
Source: Ownwell