Sanford, Maine Property Taxes
The median property tax rate in Sanford, ME is 1.51%, notably higher than the national median of 0.99% but slightly lower than the Maine state median of 1.57%. With the median home value in Sanford at $238,600, the typical annual property tax bill reaches $3,612, surpassing the national median of $2,690. Property taxes in Sanford are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Sanford'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 Sanford or another part of York County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sanford, 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 Sanford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sanford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sanford 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 Sanford, Maine
Property taxes in Sanford, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sanford is 1.51%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Sanford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sanford 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 Sanford's effective property tax rate to other counties in Maine and the national median. For comparison, the 04073 zip code has both the highest and lowest median property tax rate of 1.51%. Understanding how these cities compare with Sanford 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 Sanford Tax Rate
1.51%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sanford, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04073 | 1.51% | 1.51% | 1.51% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Sanford, Maine
In Sanford, 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 Sanford, 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. Sanford's median home price stands at $238,600, with tax bills ranging from $2,948 at the 25th percentile to $5,674 at the 90th percentile. The highest and lowest median tax bills are both in the zip code 04073, at $3,612. Being aware of these valuation processes in Sanford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sanford Assessed Value
$238,600
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 Sanford, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04073 | $124,580 | $194,600 | $238,600 | $295,800 | $375,600 |
Source: Ownwell
Property Tax Bills Across Sanford, Maine
In Sanford, located in York County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Sanford is $238,600, and the property tax rate is determined by the local government to meet budgetary requirements for public services like schools, infrastructure, and emergency services. Homeowners in Sanford experience tax bills that can vary significantly; the 25th percentile tax bill is $2,948, while the 75th percentile tax bill reaches $4,476. For those in the 90th percentile, tax bills can be as high as $5,674. The highest and lowest median tax bills in the area are both recorded at $3,612 in the 04073 zip code. Compared to the national median property tax rate of 0.99%, Sanford's property tax rates reflect the region's specific fiscal needs and property values, impacting homeowners differently based on their property's assessed value.
Average Sanford Tax Bill
$3,612
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Sanford, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04073 | $1,910 | $2,948 | $3,612 | $4,476 | $5,674 |
Source: Ownwell