Durham, Maine Property Taxes
The median property tax rate in Durham, ME is 2.07%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Durham, the typical annual property tax bill reaches $4,045, exceeding the national median of $2,690. Property taxes in Durham 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 Durham'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 Durham 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
Durham, 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 Durham Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Durham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Durham 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 Durham, Maine
Property taxes in Durham, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Durham is 2.07%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Durham set these rates annually, and they can vary across different neighborhoods. Each year, Durham 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 Durham's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04222 has the highest median property tax rate of 2.07%, while the same zip code also has the lowest median tax rate of 2.07%. Understanding how these areas compare with Durham provides valuable insights into the varying tax landscape across Androscoggin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Durham Tax Rate
2.07%
Average Androscoggin County Tax Rate
2.28%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Durham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04222 | 2.07% | 2.07% | 2.07% | 2.07% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Durham, Maine
In Durham, 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 Androscoggin 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 Durham, 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 Durham 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 in Durham is 04222, with a median tax bill of $4,045.
Average Durham Assessed Value
$195,400
Average Androscoggin County Assessed Value
$134,490
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Durham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04222 | $113,460 | $151,100 | $195,400 | $249,100 | $293,100 |
Source: Ownwell
Property Tax Bills Across Durham, Maine
In Durham, ME, property tax bills are calculated based on the assessed value of a home. The median home price in Durham is $195,400. Property taxes are determined by multiplying the assessed value of the property by the local tax rate. Factors such as property location within Androscoggin County, home improvements, and local government budgets can influence the assessed value. The tax bill for homes in Durham can vary significantly, with the 25th percentile tax bill at $3,124 and the 75th percentile reaching $5,156. For those in the 90th percentile, tax bills can be as high as $6,067. Comparatively, the highest and lowest median tax bills within the same zip code, 04222, are both $4,045. These property taxes can significantly impact homeowners by influencing their overall housing costs and potentially affecting their ability to invest in other areas. With the national median property tax rate at 0.99%, Durham's rates are notably higher, reflecting the local economic and governmental factors at play.
Average Durham Tax Bill
$4,045
Average Androscoggin County Tax Bill
$3,060
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Durham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04222 | $2,348 | $3,124 | $4,045 | $5,156 | $6,067 |
Source: Ownwell