Buxton, Maine Property Taxes
The median property tax rate in Buxton, ME is 1.28%, which is higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Buxton, the typical annual property tax bill reaches $9,879, significantly exceeding the national median of $2,690. Property taxes in Buxton are calculated based on the tax assessed value, which is often below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Buxton'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 Buxton or another part of Cumberland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buxton, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$9,841
Ownwell’s Buxton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buxton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buxton 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 Buxton, Maine
Property taxes in Buxton, Maine, are essential for funding vital local services, including public schools, road maintenance, and emergency services. The median tax rate in Buxton is 1.28%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Buxton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buxton 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 Buxton's effective property tax rate to other areas in Cumberland County and the national median. For comparison, the zip code 04093 has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these areas compare with Buxton provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buxton Tax Rate
1.28%
Average Cumberland County Tax Rate
1.52%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buxton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04093 | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Buxton, Maine
In Buxton, 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 Cumberland 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 Buxton, 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 Buxton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $9,879, with the zip code 04093.
Average Buxton Assessed Value
$768,800
Average Cumberland County Assessed Value
$319,900
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buxton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04093 | $768,800 | $768,800 | $768,800 | $768,800 | $768,800 |
Source: Ownwell
Property Tax Bills Across Buxton, Maine
In Buxton, located in Cumberland County, ME, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. Homeowners in Buxton can expect a median property tax bill of $9,879, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can be attributed to the relatively high median home price in the area, which stands at $768,800. The property tax rate in Buxton impacts homeowners by contributing to the overall cost of owning a home. It is essential for homeowners to understand how their tax bill is determined, as it plays a crucial role in budgeting for annual expenses and long-term financial planning.
Average Buxton Tax Bill
$9,879
Average Cumberland County Tax Bill
$4,856
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Buxton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04093 | $9,879 | $9,879 | $9,879 | $9,879 | $9,879 |
Source: Ownwell