Springvale, Maine Property Taxes
The median property tax rate in Springvale, ME is 1.51%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Springvale at $245,500, the typical annual property tax bill reaches $3,717, exceeding the national median of $2,690. Property taxes in Springvale are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Springvale'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 Springvale 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
Springvale, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$3,707
Ownwell’s Springvale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springvale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springvale 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 Springvale, Maine
Property taxes in Springvale, ME, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Springvale is 1.51%, significantly higher than the U.S. national median of 0.99%. Local government entities within Springvale set these rates annually, and they can vary across different neighborhoods. Each year, Springvale 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 Springvale's effective property tax rate to other areas in Maine and the national median. For comparison, the 04083 zip code has both the highest and lowest median property tax rate of 1.51%. Understanding how these areas compare with Springvale 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 Springvale 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 Springvale, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04083 | 1.51% | 1.51% | 1.51% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Springvale, Maine
In Springvale, 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 Springvale, 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 Springvale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04083 has the highest and lowest median tax bill, both at $3717.
Average Springvale Assessed Value
$245,500
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 Springvale, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04083 | $154,500 | $200,600 | $245,500 | $307,000 | $409,150 |
Source: Ownwell
Property Tax Bills Across Springvale, Maine
In Springvale, ME, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the home. Once the assessed value is established, it is multiplied by the tax rate set by York County to determine the annual property tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. For homeowners in Springvale, the median home price is $245,500, which serves as a benchmark for calculating property taxes. The tax bills in Springvale can vary significantly, with the 25th percentile at $3,037 and the 75th percentile reaching $4,648, indicating a wide range of property values and corresponding tax obligations. Compared to the national median property tax rate of 0.99%, Springvale's property tax bills reflect the local economic conditions and property values. This variability affects homeowners by influencing their annual financial obligations, which can impact their overall cost of living and long-term financial planning.
Average Springvale Tax Bill
$3,717
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Springvale, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04083 | $2,339 | $3,037 | $3,717 | $4,648 | $6,194 |
Source: Ownwell