Presque Isle, Maine Property Taxes
The median property tax rate in Presque Isle, ME is 2.38%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Presque Isle at $98,350, the typical annual property tax bill reaches $2,336, slightly below the national median of $2,690. Property taxes in Presque Isle 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 Presque Isle'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 Presque Isle 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
Presque Isle, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.38%
Estimate Property Tax Bill
$2,341
Ownwell’s Presque Isle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Presque Isle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Presque Isle 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 Presque Isle, Maine
Property taxes in Presque Isle, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Presque Isle is 1.32%, higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Presque Isle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Presque Isle 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 Presque Isle's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04769 has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Presque Isle 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 Presque Isle Tax Rate
2.38%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Presque Isle, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04769 | 2.37% | 2.37% | 2.38% | 2.38% | 2.38% |
Source: Ownwell
Property Tax Assessment Values Across Presque Isle, Maine
In Presque Isle, 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 Presque Isle, 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 Presque Isle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04769 has both the highest and lowest median tax bill at $2,336, reflecting the uniformity in property tax assessments in the area.
Average Presque Isle Assessed Value
$98,350
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 Presque Isle, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04769 | $25,900 | $55,975 | $98,350 | $138,250 | $194,580 |
Source: Ownwell
Property Tax Bills Across Presque Isle, Maine
In Presque Isle, ME, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the property tax rate set by the local government. The median home price in Presque Isle is $98,350, which serves as a baseline for many homeowners. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, the 25th percentile of tax bills in Presque Isle is $1,330, while the 75th percentile reaches $3,283, and the 90th percentile can be as high as $4,622. These variations demonstrate how different property characteristics and exemptions can impact the final amount owed. Homeowners in Presque Isle should be aware that their property tax rate is a crucial component of their annual financial planning. Comparing this to the national median property tax rate of 0.99%, it's evident that local rates can significantly affect the overall cost of owning a home in this area.
Average Presque Isle Tax Bill
$2,336
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Presque Isle, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04769 | $611 | $1,330 | $2,336 | $3,283 | $4,622 |
Source: Ownwell