Ellsworth, Maine Property Taxes
The median property tax rate in Ellsworth, ME is 1.57%, considerably higher than both the national median of 0.99% and matching the Maine state median of 1.57%. With the median home value in Ellsworth at $204,240, the typical annual property tax bill reaches $3,178, significantly exceeding the national median of $2,690. Property taxes in Ellsworth 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 Ellsworth'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 Ellsworth 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
Ellsworth, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,207
Ownwell’s Ellsworth Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Ellsworth. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Ellsworth to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at a neighborhood level, additional localized information is available further down the page. Your property's assessed value, determined by Hancock County, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Ellsworth, Maine
Property taxes in Ellsworth, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ellsworth is 1.57%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ellsworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellsworth 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 Ellsworth's effective property tax rate to other counties in Maine and the national median. For comparison, the 04605 zip code has both the highest and lowest median property tax rate of 1.57%. Understanding how these cities compare with Ellsworth 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 Ellsworth Tax Rate
1.57%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ellsworth, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04605 | 1.57% | 1.57% | 1.57% | 1.57% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Ellsworth, Maine
In Ellsworth, 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 Ellsworth, 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. The median home price in Ellsworth is $204,240, with tax bills ranging from $2,188 at the 25th percentile to $6,009 at the 90th percentile. The highest and lowest median tax bills are both $3,178, found in the 04605 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ellsworth Assessed Value
$204,240
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 Ellsworth, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04605 | $69,840 | $140,520 | $204,240 | $283,000 | $386,936 |
Source: Ownwell
Property Tax Bills Across Ellsworth, Maine
In Ellsworth, located in Hancock County, ME, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is an estimate of the property’s market value, which is periodically updated to reflect changes in the real estate market. Factors such as home size, location, and property improvements are considered during assessment. For homeowners in Ellsworth, the median home price is $204,240. Property tax bills can vary significantly, with the 25th percentile at $2,188 and the 75th percentile reaching $4,410. The 90th percentile tax bill can go as high as $6,009. The highest median tax bill in the area is $3,178, recorded in the 04605 zip code. These property taxes fund essential public services like schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Ellsworth may find their tax obligations to be a significant part of their annual expenses, depending on their property’s assessed value.
Average Ellsworth Tax Bill
$3,178
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellsworth, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04605 | $1,031 | $2,188 | $3,178 | $4,410 | $6,009 |
Source: Ownwell