Bass Harbor, Maine Property Taxes
The median property tax rate in Bass Harbor, ME is 1.16%, which is considerably higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Bass Harbor at $228,600, the typical annual property tax bill reaches $2,661, slightly below the national median of $2,690. Property taxes in Bass Harbor 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 Bass Harbor'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 Bass Harbor or another part of Hancock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bass Harbor, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$2,652
Ownwell’s Bass Harbor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bass Harbor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bass Harbor 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 Bass Harbor, Maine
Property taxes in Bass Harbor, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bass Harbor is 1.16%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Bass Harbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bass Harbor 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 Bass Harbor's effective property tax rate to other counties in Maine and the national median. For comparison, the 04653 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Bass Harbor provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bass Harbor Tax Rate
1.16%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bass Harbor, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04653 | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Bass Harbor, Maine
In Bass Harbor, 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 Hancock 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 Bass Harbor, 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. For instance, the zip code 04653 has the highest and lowest median tax bill at $2,661. Being aware of these valuation processes in Bass Harbor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bass Harbor Assessed Value
$228,600
Average Hancock County Assessed Value
$205,850
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bass Harbor, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04653 | $112,880 | $163,350 | $228,600 | $326,300 | $463,100 |
Source: Ownwell
Property Tax Bills Across Bass Harbor, Maine
Property tax bills in Bass Harbor, Hancock County, ME, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the home. In Bass Harbor, homeowners experience a range of property tax bills, with the 25th percentile paying around $1,902 and the 75th percentile paying about $3,798. For those at the 90th percentile, the tax bill can reach up to $5,390. These tax bills are influenced by various factors, including property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Bass Harbor's tax rates can significantly impact homeowners, especially those with higher-valued properties. The highest and lowest median tax bills in the area are both $2,661, reflecting a consistent tax rate across different properties. This system ensures that property taxes are fairly distributed, but it can also mean substantial annual costs for homeowners, affecting their overall financial planning and homeownership experience.
Average Bass Harbor Tax Bill
$2,661
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Bass Harbor, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04653 | $1,314 | $1,902 | $2,661 | $3,798 | $5,390 |
Source: Ownwell