North Waterboro, Maine Property Taxes
The median property tax rate in North Waterboro, ME is 1.32%, which is higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in North Waterboro at $212,300, the typical annual property tax bill reaches $2,802, surpassing the national median of $2,690. Property taxes in North Waterboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Waterboro'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 North Waterboro 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
North Waterboro, 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 North Waterboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Waterboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Waterboro 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 North Waterboro, Maine
Property taxes in North Waterboro, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Waterboro is 1.32%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within North Waterboro set these rates annually, and they can vary across different neighborhoods. Each year, North Waterboro 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 North Waterboro's effective property tax rate to other areas in Maine and the national median. For comparison, the 04061 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these figures compare with North Waterboro 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 North Waterboro Tax Rate
1.32%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Waterboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04061 | 1.32% | 1.32% | 1.32% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across North Waterboro, Maine
In North Waterboro, 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 North Waterboro, 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 North Waterboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 04061, with a median tax bill of $2,802.
Average North Waterboro Assessed Value
$212,300
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 North Waterboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04061 | $150,660 | $179,150 | $212,300 | $289,500 | $387,400 |
Source: Ownwell
Property Tax Bills Across North Waterboro, Maine
In North Waterboro, York County, ME, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $212,300, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as property size, location, and improvements can influence the assessed value and, subsequently, the tax bill. In North Waterboro, the tax bills range significantly, with the 25th percentile at $2,364 and the 75th percentile at $3,821, indicating a broad spectrum of property valuations and tax responsibilities. Compared to the national median property tax rate of 0.99%, homeowners in North Waterboro experience a diverse range of tax bills, with the highest median tax bill in the area being $2,802. This variation highlights the importance of understanding local assessment practices and potential exemptions to manage property tax expenses effectively.
Average North Waterboro Tax Bill
$2,802
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across North Waterboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04061 | $1,989 | $2,364 | $2,802 | $3,821 | $5,114 |
Source: Ownwell