Easton, Maine Property Taxes
The median property tax rate in Easton, ME is 1.63%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Easton, the typical annual property tax bill reaches $1,521, exceeding the national median of $2,690. Property taxes in Easton 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 Easton’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 Easton 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
Easton, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$1,518
Ownwell’s Easton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Easton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Easton 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 Easton, Maine
Property taxes in Easton, Maine, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Easton is 1.63%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Easton set these rates annually, and they can vary substantially across different neighborhoods. Each year, Easton 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 for setting property tax rates. The data below compares Easton's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04740 has the highest median property tax rate of 1.63%, while the lowest median tax rate in the same zip code is also 1.63%. Understanding how these cities compare with Easton 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 Easton Tax Rate
1.63%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Easton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04740 | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Easton, Maine
In Easton, 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 Easton, 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 Easton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $1521 in the 04740 zip code.
Average Easton Assessed Value
$93,150
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 Easton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04740 | $29,100 | $57,825 | $93,150 | $136,050 | $195,050 |
Source: Ownwell
Property Tax Bills Across Easton, Maine
Property tax bills in Easton, Aroostook County, Maine, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor and reflects the property's market value. This value is then multiplied by the tax rate to calculate the annual property tax bill. Homeowners in Easton face a median property tax rate that is slightly higher than the national median of 0.99%. For instance, with a median home price of $93,150, property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $944, while those at the 75th percentile could see bills as high as $2,222. The 90th percentile reaches up to $3,185. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Understanding how these factors interplay helps homeowners better anticipate their financial responsibilities and the benefits their taxes provide.
Average Easton Tax Bill
$1,521
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Easton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04740 | $475 | $944 | $1,521 | $2,222 | $3,185 |
Source: Ownwell