Birch Harbor, Maine Property Taxes
The median property tax rate in Birch Harbor, ME is 1.22%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Birch Harbor, the typical annual property tax bill reaches $1,466, exceeding the national median of $2,690. Property taxes in Birch 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 Birch 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 Birch Harbor 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
Birch Harbor, 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 Birch Harbor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Birch Harbor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Birch 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 Hancock County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Birch Harbor, Maine
Property taxes in Birch 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 Birch Harbor is 1.22%, which is higher than the U.S. national median of 0.99%. Local government entities within Birch Harbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Birch 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 Birch Harbor's effective property tax rate to other areas in Hancock County and the national median. For comparison, Birch Harbor has the highest median property tax rate of 1.22%, while also having the lowest median tax rate of 1.22%. Understanding how these rates compare with Birch 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 Birch Harbor Tax Rate
1.22%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Birch Harbor, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04613 | 1.22% | 1.22% | 1.22% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Birch Harbor, Maine
In Birch 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 Birch 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. The median home price in Birch Harbor is $119,700, with tax bills ranging from $1,039 at the 25th percentile to $2,829 at the 90th percentile. The zip code 04613 has the highest and lowest median tax bill, both at $1,466. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage their tax burden effectively.
Average Birch Harbor Assessed Value
$119,700
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 Birch Harbor, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04613 | $50,560 | $84,800 | $119,700 | $172,250 | $230,940 |
Source: Ownwell
Property Tax Bills Across Birch Harbor, Maine
In Birch Harbor, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Hancock County. The assessed value is an estimate of the property's market value, which can fluctuate based on the housing market and any improvements or changes made to the property. Once the assessed value is determined, it is multiplied by the county’s tax rate to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's location within Birch Harbor, its size, and any applicable exemptions or deductions. For instance, the median home price in Birch Harbor is $119,700, and tax bills can vary widely. Homeowners in the 25th percentile can expect to pay around $1,039, while those in the 75th percentile might see bills as high as $2,110. At the 90th percentile, tax bills can reach $2,829. These figures highlight the importance of understanding local property tax assessments, as they significantly impact annual household expenses.
Average Birch Harbor Tax Bill
$1,466
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Birch Harbor, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04613 | $619 | $1,039 | $1,466 | $2,110 | $2,829 |
Source: Ownwell