Clayton Lake, Maine Property Taxes
The median property tax rate in Clayton Lake, ME is 2.05%, significantly higher than both the national median of 0.99% and Maine's state median of 1.57%. With the median home value in Clayton Lake at $72,172, the typical annual property tax bill amounts to $1,480, surpassing the national median of $2,690. Property taxes in Clayton Lake are calculated based on the assessed value, which is generally lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Clayton Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Clayton Lake or another part of Aroostook County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clayton Lake, 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 Clayton Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayton Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayton Lake 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 Clayton Lake, Maine
Property taxes in Clayton Lake, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clayton Lake is 1.09%, higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Clayton Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayton Lake 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 Clayton Lake's effective property tax rate to other counties in Maine and the national median. For comparison, the 04737 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Clayton Lake 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 Clayton Lake Tax Rate
2.05%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayton Lake, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04737 | 2.05% | 2.05% | 2.05% | 2.05% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Clayton Lake, Maine
In Clayton Lake, Maine, understanding the distinction between "market value" and "assessed value" is essential 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 Clayton Lake, 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. The median home price in Clayton Lake is $72,172. The highest and lowest median tax bills are both $1,480, found in the 04737 zip code. By understanding 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 Clayton Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clayton Lake Assessed Value
$72,172
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 Clayton Lake, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04737 | $72,172 | $72,172 | $72,172 | $72,172 | $72,172 |
Source: Ownwell
Property Tax Bills Across Clayton Lake, Maine
In Clayton Lake, located in Aroostook County, ME, property tax bills are calculated based on the assessed value of the property. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the assessed value include the property's market value, location, and any improvements or renovations made. For homeowners in Clayton Lake, the median home price is $72,172. The property tax rate in this region is notably higher than the national median property tax rate of 0.99%. Homeowners here can expect a median tax bill of $1,480, which remains consistent across different percentiles, including the 25th, 75th, and 90th percentiles. This relatively high property tax bill can significantly impact homeowners' annual expenses, making it essential for residents to understand how their tax bill is determined. By being aware of these factors, homeowners can better anticipate their financial obligations and plan accordingly.
Average Clayton Lake Tax Bill
$1,480
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayton Lake, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04737 | $1,480 | $1,480 | $1,480 | $1,480 | $1,480 |
Source: Ownwell