Cyr Plt, Maine Property Taxes
The median property tax rate in CYR PLT, ME is 1.09%, slightly higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in CYR PLT, the typical annual property tax bill reaches $938, which is below the national median of $2,690. Property taxes in CYR PLT are calculated based on the tax assessed value, typically lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding CYR PLT'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 CYR PLT 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
Cyr Plt, 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 CYR PLT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CYR PLT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CYR PLT 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 Cyr Plt, Maine
Property taxes in CYR PLT, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in CYR PLT is 1.09%, which is higher than the U.S. national median of 0.99%. Local government entities within CYR PLT set these rates annually, and they can vary significantly across different neighborhoods. Each year, CYR PLT 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 CYR PLT's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04785 has both the highest and lowest median property tax rate of 1.09%. Understanding how these cities compare with CYR PLT 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 Cyr Plt Tax Rate
1.09%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cyr Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04785 | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Cyr Plt, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in CYR PLT, Maine. 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 CYR PLT, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 04785 has the highest and lowest median tax bill, both at $938, making it essential for homeowners to stay informed.
Average Cyr Plt Assessed Value
$86,050
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 Cyr Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04785 | $52,810 | $64,600 | $86,050 | $119,375 | $145,070 |
Source: Ownwell
Property Tax Bills Across Cyr Plt, Maine
In CYR PLT, Aroostook County, ME, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The property tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $86,050, homeowners can expect varying tax bills. The 25th percentile tax bill stands at $704, while the 75th percentile reaches $1,302, and the 90th percentile goes up to $1,581. Factors such as property size, location, and improvements can influence the assessed value, thus impacting the tax bill. Homeowners in this region see a median property tax bill of $938, which is relatively modest compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly, ensuring they are prepared for any fluctuations in their annual property tax bills.
Average Cyr Plt Tax Bill
$938
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Cyr Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04785 | $576 | $704 | $938 | $1,302 | $1,581 |
Source: Ownwell