Naples, Maine Property Taxes
The median property tax rate in Naples, ME is 0.92%, slightly below the national median of 0.99% and significantly lower than the Maine state median of 1.57%. With the median home value in Naples at $209,815, the typical annual property tax bill amounts to $1,920, which is notably less than the national median of $2,690. Property taxes in Naples are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Naples' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Naples or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Naples, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,930
Ownwell’s Naples Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Naples with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Naples 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 Naples, Maine
Property taxes in Naples, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Naples is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Naples set these rates annually, and they can vary significantly across different neighborhoods. Each year, Naples 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 Naples' effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04055 has both the highest and lowest median property tax rates of 0.92%. Understanding how these areas compare with Naples 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 Naples Tax Rate
0.92%
Average Cumberland County Tax Rate
1.52%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Naples, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04055 | 0.91% | 0.91% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Naples, Maine
In Naples, 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 Naples, 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 Naples helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Naples are both $1,920, found in the 04055 zip code.
Average Naples Assessed Value
$209,815
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 Naples, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04055 | $86,030 | $135,627 | $209,815 | $268,141 | $342,662 |
Source: Ownwell
Property Tax Bills Across Naples, Maine
In Naples, Cumberland County, ME, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Naples is $209,815, and the property tax rate is a key factor in determining the annual tax bill. Homeowners can expect their property tax bills to vary widely, with the 25th percentile tax bill around $1,241 and the 75th percentile tax bill reaching approximately $2,454. For those at the 90th percentile, tax bills can climb to $3,135. Several factors influence these tax bills, including the property's assessed value, any applicable exemptions, and the local tax rate set by municipal authorities. Compared to the national median property tax rate of 0.99%, Naples homeowners experience a range of tax burdens, which can significantly impact their annual financial planning. Understanding these elements helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Naples Tax Bill
$1,920
Average Cumberland County Tax Bill
$4,856
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Naples, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04055 | $787 | $1,241 | $1,920 | $2,454 | $3,135 |
Source: Ownwell