Chapman, Maine Property Taxes
The median property tax rate in Chapman, ME is 1.73%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Chapman, the typical annual property tax bill reaches $2,023, exceeding the national median of $2,690. Property taxes in Chapman 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 Chapman’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 Chapman or another part of Aroostook County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chapman, 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 Chapman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chapman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chapman 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 Chapman, Maine
Property taxes in Chapman, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chapman is 1.73%, significantly higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Chapman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chapman 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 Chapman's effective property tax rate to other counties in Maine and the national median. For comparison, the 04757 zip code has the highest median property tax rate of 1.73%, while the 04757 zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Chapman provides valuable insights into the varying tax landscape across Aroostook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chapman Tax Rate
1.73%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chapman, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04757 | 1.73% | 1.73% | 1.73% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Chapman, Maine
In Chapman, 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 Aroostook 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 Chapman, 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 Chapman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Chapman are both $2,023, found in zip code 04757, reflecting the consistent property tax landscape in the area.
Average Chapman Assessed Value
$116,600
Average Aroostook County Assessed Value
$86,999
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chapman, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04757 | $55,390 | $81,300 | $116,600 | $155,375 | $189,280 |
Source: Ownwell
Property Tax Bills Across Chapman, Maine
In Chapman, Aroostook County, ME, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Chapman, the median home price is $116,600. Property tax bills can vary significantly, with the 25th percentile bill being $1,411 and the 75th percentile bill reaching $2,696. At the 90th percentile, homeowners can expect to pay around $3,284. These property taxes fund essential public services such as schools, infrastructure, and emergency services. The impact on homeowners can be substantial, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners in Chapman plan their finances and anticipate their annual property tax obligations. The highest and lowest median tax bills in the region are both $2,023, indicating some level of consistency in tax assessments within the specified zip code.
Average Chapman Tax Bill
$2,023
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Chapman, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04757 | $961 | $1,411 | $2,023 | $2,696 | $3,284 |
Source: Ownwell