Perham, Maine Property Taxes
The median property tax rate in Perham, ME is 1.68%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Perham, the typical annual property tax bill reaches $1,512, which is below the national median of $2,690. Property taxes in Perham 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 Perham'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 Perham 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
Perham, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$1,512
Ownwell’s Perham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perham 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 Perham, Maine
Property taxes in Perham, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perham is 1.68%, significantly higher than the U.S. national median of 0.99%. Local government entities within Perham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perham 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 Perham's effective property tax rate to other areas in Aroostook County and the national median. For comparison, the 04766 zip code has both the highest and lowest median property tax rate of 1.68%. Understanding how these cities compare with Perham 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 Perham Tax Rate
1.68%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Perham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04766 | 1.68% | 1.68% | 1.68% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Perham, Maine
In Perham, 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 Perham, 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 Perham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 04766, with a median tax bill of $1512, while the lowest median tax bill is also in 04766, at $1512.
Average Perham Assessed Value
$90,000
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 Perham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04766 | $37,160 | $65,050 | $90,000 | $126,750 | $178,290 |
Source: Ownwell
Property Tax Bills Across Perham, Maine
In Perham, located in Aroostook County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local tax assessor and reflects the market value of the property. For instance, with a median home price of $90,000, homeowners can expect their property tax bill to fall within a range influenced by various factors such as property size, location, and improvements. The tax bill in Perham can vary significantly. Homeowners in the 25th percentile pay around $1,093 annually, while those in the 75th percentile face bills of approximately $2,130. For the top 10% of property values, tax bills can reach up to $2,996. The median tax bill in Perham stands at $1,512, which is considerably higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Homeowners need to budget accordingly to accommodate these annual expenses.
Average Perham Tax Bill
$1,512
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Perham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04766 | $624 | $1,093 | $1,512 | $2,130 | $2,996 |
Source: Ownwell