Jim Pond Twp, Maine Property Taxes
The median property tax rate in Jim Pond Twp, ME is 0.83%, which is lower than both the national median of 0.99% and the Maine state median of 1.57%. With a median home value of $143,030 in Jim Pond Twp, the typical annual property tax bill is $1,182, falling below the national median of $2,690. Property taxes in Jim Pond Twp are determined 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. By understanding Jim Pond Twp's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're in the heart of Jim Pond Twp or another part of Franklin County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jim Pond Twp, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,187
Ownwell’s Jim Pond TWP Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jim Pond TWP with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jim Pond TWP 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 Jim Pond Twp, Maine
Property taxes in Jim Pond Township, Maine, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jim Pond Township is 0.83%, which is lower than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Jim Pond Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jim Pond Township 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 Jim Pond Township's effective property tax rate to other counties in Maine and the national median. For comparison, the 04936 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these areas compare with Jim Pond Township 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 Jim Pond Twp Tax Rate
0.83%
Average Franklin County Tax Rate
1.80%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jim Pond Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04936 | 0.79% | 0.81% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Jim Pond Twp, Maine
In Jim Pond Twp, 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. 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 Jim Pond Twp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04936 has the highest and lowest median tax bill, both at $1,182.
Average Jim Pond Twp Assessed Value
$143,030
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 Jim Pond Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04936 | $132,267 | $136,582 | $143,030 | $148,525 | $151,126 |
Source: Ownwell
Property Tax Bills Across Jim Pond Twp, Maine
In Jim Pond Township, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors are considered in this process, including the property's market value, location, and any applicable exemptions or abatements. For homeowners in Jim Pond Township, the median home price is $143,030, with property tax bills ranging from $1,112 at the 25th percentile to $1,227 at the 75th percentile, and $1,249 at the 90th percentile. The highest and lowest median tax bills in the area are both recorded at $1,182 in the 04936 zip code. Compared to the national median property tax rate of 0.99%, the property tax rates in Jim Pond Township can have a significant impact on homeowners, affecting their overall cost of living and financial planning. Understanding these factors helps homeowners anticipate their annual expenses and manage their budgets more effectively.
Average Jim Pond Twp Tax Bill
$1,182
Average Franklin County Tax Bill
$1,981
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Jim Pond Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04936 | $1,046 | $1,112 | $1,182 | $1,227 | $1,249 |
Source: Ownwell