Washburn, Maine Property Taxes
The median property tax rate in Washburn, ME is 1.98%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Washburn at $79,400, the typical annual property tax bill reaches $1,560, exceeding the national median of $2,690. Property taxes in Washburn 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 Washburn'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 Washburn 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
Washburn, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Washburn Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Washburn with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Washburn to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed decisions. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Washburn, Maine
Property taxes in Washburn, Maine, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washburn is 1.98%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Washburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washburn 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 Washburn's effective property tax rate to other counties in Maine and the national median. For comparison, the 04786 zip code has the highest median property tax rate of 1.98%, while the same zip code also has the lowest median tax rate of 1.98%. Understanding how these cities compare with Washburn 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 Washburn Tax Rate
1.98%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washburn, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04786 | 1.97% | 1.97% | 1.98% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Washburn, Maine
In Washburn, 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 Washburn, 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 Washburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04786 has the highest and lowest median tax bill at $1,560, which is notably higher than the national median property tax rate of 0.99%.
Average Washburn Assessed Value
$79,400
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 Washburn, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04786 | $36,160 | $58,800 | $79,400 | $104,225 | $137,100 |
Source: Ownwell
Property Tax Bills Across Washburn, Maine
In Washburn, Aroostook County, ME, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is typically a percentage of the market value of the home. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the size of the property, its location, and the condition of the home. For example, the median home price in Washburn is $79,400. Homeowners in the 25th percentile can expect a tax bill around $1,158, while those in the 75th percentile might see a bill closer to $2,048. At the 90th percentile, the tax bill can reach up to $2,678. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Washburn's tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Washburn Tax Bill
$1,560
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Washburn, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04786 | $714 | $1,158 | $1,560 | $2,048 | $2,678 |
Source: Ownwell