Fort Kent Mills, Maine Property Taxes
The median property tax rate in Fort Kent Mills, ME is 2.10%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Fort Kent Mills, the typical annual property tax bill reaches $2,102, slightly below the national median of $2,690. Property taxes in Fort Kent Mills 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 Fort Kent Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fort Kent Mills 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
Fort Kent Mills, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.1%
Estimate Property Tax Bill
$2,102
Ownwell’s FORT KENT MILLS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORT KENT MILLS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORT KENT MILLS 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 Fort Kent Mills, Maine
Property taxes in Fort Kent Mills, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Kent Mills is 2.10%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Fort Kent Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Kent Mills 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 Fort Kent Mills' effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04744 has the highest median property tax rate of 2.10%, while the same zip code also has the lowest median tax rate of 2.10%. Understanding how these figures compare with Fort Kent Mills 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 Fort Kent Mills Tax Rate
2.10%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Kent Mills, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04744 | 2.10% | 2.10% | 2.10% | 2.10% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Fort Kent Mills, Maine
In Fort Kent Mills, 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 Fort Kent Mills, 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 Fort Kent Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 04744, with a value of $2102.
Average Fort Kent Mills Assessed Value
$100,100
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 Fort Kent Mills, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04744 | $76,020 | $85,050 | $100,100 | $112,950 | $120,660 |
Source: Ownwell
Property Tax Bills Across Fort Kent Mills, Maine
In Fort Kent Mills, property tax bills are determined by assessing the market value of a property and applying the local tax rate to that value. The process starts with an assessment to establish the market value of the property, which is then multiplied by the tax rate set by Aroostook County. This rate reflects the funding needs for local services such as schools, roads, and emergency services. Several factors influence the final tax bill, including the property's location, size, and condition. Homeowners in Fort Kent Mills can expect their tax bills to vary significantly, with the 25th percentile tax bill at $1,786 and the 75th percentile at $2,372. The highest median tax bill in the area is $2,102, highlighting the variability within the region. Compared to the national median property tax rate of 0.99%, Fort Kent Mills' tax rate can affect homeowners differently depending on their property's assessed value. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Fort Kent Mills Tax Bill
$2,102
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Kent Mills, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04744 | $1,596 | $1,786 | $2,102 | $2,372 | $2,534 |
Source: Ownwell