Westfield, Maine Property Taxes
The median property tax rate in Westfield, Maine 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 Westfield, the typical annual property tax bill reaches $1,325, exceeding the national median of $2,690. Property taxes in Westfield 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 Westfield'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 Westfield 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
Westfield, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$1,327
Ownwell’s Westfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westfield 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 Westfield, Maine
Property taxes in Westfield, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westfield is 1.98%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Westfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westfield 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 Westfield's effective property tax rate to other counties in Maine and the national median. For comparison, the 04787 zip code has both the highest and lowest median property tax rate of 1.98%. Understanding how these areas compare with Westfield 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 Westfield 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 Westfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04787 | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Westfield, Maine
In Westfield, 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 Westfield, 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. For instance, the median home price in Westfield is $67,000, with tax bills ranging from $808 at the 25th percentile to $2,459 at the 90th percentile. The zip code 04787 has the highest and lowest median tax bill of $1,325. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Westfield Assessed Value
$67,000
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 Westfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04787 | $27,990 | $40,875 | $67,000 | $95,800 | $124,310 |
Source: Ownwell
Property Tax Bills Across Westfield, Maine
In Westfield, property tax bills are calculated based on the assessed value of the home and the local property tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. Homeowners in Westfield can expect varying tax bills depending on their property's assessed value. For instance, the median home price in Westfield is $67,000, which significantly influences the tax bill. Homeowners in the 25th percentile pay around $808 annually, while those in the 75th percentile see bills closer to $1,895. At the 90th percentile, tax bills can reach up to $2,459. These figures show a broad range in tax obligations, reflecting differences in property values and assessments within the city. The highest and lowest median tax bills in Westfield are both $1,325, indicating a uniformity in certain areas. Compared to the national median property tax rate of 0.99%, Westfield's rates and resulting tax bills can have a substantial impact on homeowners, influencing their financial planning and property investment decisions.
Average Westfield Tax Bill
$1,325
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Westfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04787 | $554 | $808 | $1,325 | $1,895 | $2,459 |
Source: Ownwell