East Wilton, Maine Property Taxes
The median property tax rate in East Wilton, ME is 2.04%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in East Wilton at $140,888, the typical annual property tax bill reaches $2,874, exceeding the national median of $2,690. Property taxes in East Wilton 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 East Wilton'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 East Wilton 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
East Wilton, 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 EAST WILTON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EAST WILTON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EAST WILTON 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 East Wilton, Maine
Property taxes in East Wilton, Maine, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in East Wilton is 2.04%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within East Wilton set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Wilton 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 East Wilton's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04234 has the highest median property tax rate of 2.04%, while the same zip code also has the lowest median tax rate of 2.04%. Understanding how these cities compare with East Wilton provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Wilton Tax Rate
2.04%
Average Franklin County Tax Rate
1.80%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Wilton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04234 | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across East Wilton, Maine
In East Wilton, 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 Franklin 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 East Wilton, 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. For example, the median home price is $140,888, with tax bills ranging from $2,513 at the 25th percentile to $3,452 at the 90th percentile. Notably, the highest and lowest median tax bills are both $2,874 in the 04234 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average East Wilton Assessed Value
$140,888
Average Franklin County Assessed Value
$119,100
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Wilton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04234 | $112,557 | $123,181 | $140,888 | $158,595 | $169,219 |
Source: Ownwell
Property Tax Bills Across East Wilton, Maine
In East Wilton, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in East Wilton, located in Franklin County, the median home price is $140,888. Tax bills can vary significantly; for example, the 25th percentile tax bill is $2,513, while the 75th percentile tax bill is $3,236, and the 90th percentile tax bill can reach up to $3,452. Several factors influence these tax bills, including the property's market value, local tax rates, and any applicable exemptions or abatements. Compared to the national median property tax rate of 0.99%, homeowners in East Wilton may find their tax bills higher or lower depending on these variables. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average East Wilton Tax Bill
$2,874
Average Franklin County Tax Bill
$1,981
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across East Wilton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04234 | $2,296 | $2,513 | $2,874 | $3,236 | $3,452 |
Source: Ownwell