Newfield, Maine Property Taxes
The median property tax rate in Newfield, ME is 1.09%, slightly higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Newfield at $261,750, the typical annual property tax bill amounts to $2,858, surpassing the national median of $2,690. Property taxes in Newfield are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Familiarizing yourself with Newfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Newfield or another part of York County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newfield, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Newfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newfield 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 Newfield, Maine
Property taxes in Newfield, Maine, are essential for funding local services like public schools, road maintenance, and emergency services. The median tax rate in Newfield is 1.09%, which is higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Newfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newfield 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 Newfield's effective property tax rate to other counties in Maine and the national median. For comparison, the 04056 zip code has the highest median property tax rate of 1.09%, while the 04056 zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Newfield 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 Newfield Tax Rate
1.09%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04056 | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Newfield, Maine
In Newfield, 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 York County 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 Newfield, 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 Newfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill in Newfield is 04056, both at $2,858.
Average Newfield Assessed Value
$261,750
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 Newfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04056 | $152,020 | $217,350 | $261,750 | $372,825 | $501,670 |
Source: Ownwell
Property Tax Bills Across Newfield, Maine
In Newfield, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the York County tax assessor and reflects the home's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Homeowners in Newfield experience varying tax bills depending on their property's value. For example, the median home price in Newfield is $261,750, and tax bills can range significantly. The 25th percentile tax bill is $2,373, while the 75th percentile reaches $4,071, and the 90th percentile can be as high as $5,479. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, Newfield homeowners may find their tax bills higher or lower based on the assessed value and local rate, directly impacting their annual financial planning.
Average Newfield Tax Bill
$2,858
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Newfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04056 | $1,660 | $2,373 | $2,858 | $4,071 | $5,479 |
Source: Ownwell