Drew Plt, Maine Property Taxes
The median property tax rate in Drew Plt, ME is 0.88%, which is lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Drew Plt at $38,280, the typical annual property tax bill amounts to $337, significantly less than the national median of $2,690. Property taxes in Drew Plt are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Drew Plt'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 Drew Plt or another part of Aroostook County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Drew Plt, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$337
Ownwell’s Drew Plt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Drew Plt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Drew 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 Drew Plt, Maine
Property taxes in Drew Plt, Maine, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Drew Plt is 0.88%, slightly lower than the U.S. national median of 0.99%. Local government entities within Drew Plt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Drew 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 Drew Plt's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04497 has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Drew 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 Drew Plt Tax Rate
0.88%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Drew Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04497 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Drew Plt, Maine
In Drew Plt, 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 Drew 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. In Drew Plt, the highest and lowest median tax bills are both $337, found in zip code 04497. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Drew Plt Assessed Value
$38,280
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 Drew Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04497 | $38,280 | $38,280 | $38,280 | $38,280 | $38,280 |
Source: Ownwell
Property Tax Bills Across Drew Plt, Maine
In Drew PLT, located in Aroostook County, ME, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $38,280. Property taxes are determined by multiplying the assessed value by the local tax rate. The tax rate in Drew PLT aligns with the national median property tax rate of 0.99%. For homeowners, this means that a property assessed at the median home price of $38,280 would result in an annual tax bill of approximately $337. This figure is consistent across various percentiles, with the 25th, 75th, and 90th percentiles all reporting the same tax bill of $337. Factors that influence the tax bill include the assessed value of the property and any applicable exemptions or deductions. For homeowners in Drew PLT, understanding these factors can help in managing property expenses effectively. The uniformity in tax bills suggests a stable and predictable property tax environment, which can be advantageous for budgeting and financial planning.
Average Drew Plt Tax Bill
$337
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Drew Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04497 | $337 | $337 | $337 | $337 | $337 |
Source: Ownwell