Weld, Maine Property Taxes
The median property tax rate in Weld, ME is 1.73%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Weld at $462,540, the typical annual property tax bill reaches $8,002, exceeding the national median of $2,690. Property taxes in Weld 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 Weld'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 Weld 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
Weld, 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 Weld Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Weld with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Weld to provide an accurate property tax bill estimate. This valuable tool helps you grasp potential tax liabilities effectively. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Weld, Maine
Property taxes in Weld, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weld is 1.73%, significantly higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Weld set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weld 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 Weld's effective property tax rate to other counties in Maine and the national median. For comparison, the 04285 zip code has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Weld 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 Weld Tax Rate
1.73%
Average Franklin County Tax Rate
1.80%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weld, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04285 | 1.73% | 1.73% | 1.73% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Weld, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Weld, Franklin County, Maine. 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 local 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 Weld, 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 Weld helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the zip code 04285 in Weld has both the highest and lowest median tax bills, each at $8002, reflecting a uniformity in tax assessments.
Average Weld Assessed Value
$462,540
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 Weld, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04285 | $462,540 | $462,540 | $462,540 | $462,540 | $462,540 |
Source: Ownwell
Property Tax Bills Across Weld, Maine
In Weld, located in Franklin County, ME, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local 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 property tax bill. For homeowners in Weld, the tax bill can be significant, with the median tax bill reaching $8,002. This is substantially higher than the national median property tax rate of 0.99%. Factors such as property size, location, and market conditions can influence the assessed value, thereby affecting the tax bill. Homeowners in Weld should be aware that their property tax bills are among the highest in the region, impacting their annual financial planning. Understanding how these factors interplay can help homeowners anticipate and manage their property tax obligations more effectively.
Average Weld Tax Bill
$8,002
Average Franklin County Tax Bill
$1,981
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Weld, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04285 | $8,002 | $8,002 | $8,002 | $8,002 | $8,002 |
Source: Ownwell