Ogunquit, Maine Property Taxes
The median property tax rate in Ogunquit, ME is 0.65%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Ogunquit at $615,900, the typical annual property tax bill reaches $3,985, exceeding the national median of $2,690. Property taxes in Ogunquit 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 Ogunquit'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 Ogunquit 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
Ogunquit, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$4,003
Ownwell’s Ogunquit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ogunquit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ogunquit 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 Ogunquit, Maine
Property taxes in Ogunquit, Maine, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Ogunquit is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Ogunquit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ogunquit 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 Ogunquit's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 03907 has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Ogunquit 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 Ogunquit Tax Rate
0.65%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ogunquit, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03907 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Ogunquit, Maine
In Ogunquit, 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 local 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 Ogunquit, 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 Ogunquit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Ogunquit, the highest median tax bill is $3,985, and the lowest median tax bill is also $3,985, both in the 03907 zip code.
Average Ogunquit Assessed Value
$615,900
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 Ogunquit, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03907 | $245,700 | $362,500 | $615,900 | $880,000 | $1,277,660 |
Source: Ownwell
Property Tax Bills Across Ogunquit, Maine
In Ogunquit, located in York County, 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 town's assessor and reflects the market value of the property. Ogunquit's property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the home. For instance, the median home price in Ogunquit is $615,900, leading to varying tax bills. Homeowners at the 25th percentile pay around $2,350, while those at the 75th percentile face bills of approximately $5,702. The highest tax bills, at the 90th percentile, can reach up to $8,271. These property taxes significantly impact homeowners, as they represent a considerable annual expense. Compared to the national median property tax rate of 0.99%, Ogunquit's property taxes can be relatively high, reflecting the area's higher property values.
Average Ogunquit Tax Bill
$3,985
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Ogunquit, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03907 | $1,591 | $2,350 | $3,985 | $5,702 | $8,271 |
Source: Ownwell