Holden, Maine Property Taxes
The median property tax rate in Holden, ME is 1.58%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Holden at $209,600, the typical annual property tax bill reaches $3,356, exceeding the national median of $2,690. Property taxes in Holden 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 Holden'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 Holden 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
Holden, 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 Holden Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Holden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holden 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 Holden, Maine
Property taxes in Holden, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holden is 1.58%, significantly higher than the U.S. national median of 0.99%. Local government entities within Holden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holden 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 Holden's effective property tax rate to other counties in Maine and the national median. For comparison, the 04429 zip code has both the highest and lowest median property tax rate of 1.58%. Understanding how these cities compare with Holden provides valuable insights into the varying tax landscape across Hancock, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holden Tax Rate
1.58%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holden, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04429 | 1.58% | 1.58% | 1.58% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Holden, Maine
In Holden, 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 Holden, 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 Holden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 04429, amounting to $3,356, while the lowest is also 04429 with the same median tax bill.
Average Holden Assessed Value
$209,600
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 Holden, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04429 | $95,620 | $143,525 | $209,600 | $285,500 | $379,400 |
Source: Ownwell
Property Tax Bills Across Holden, Maine
In Holden, ME, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local assessor's office and reflects the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, Holden's property tax rate is considerably higher than the national median rate of 0.99%, leading to higher tax bills for homeowners. Several factors influence the assessed value, including property size, location, and market conditions. Homeowners in Holden can expect tax bills that vary significantly. For example, the 25th percentile tax bill is around $2,353, while the 75th percentile is approximately $4,690, and the 90th percentile reaches up to $6,120. The highest median tax bill in Holden's zip code 04429 is $3,356, which is consistent across the area. These tax bills can have a substantial impact on homeowners, affecting their overall cost of living and financial planning.
Average Holden Tax Bill
$3,356
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Holden, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04429 | $1,681 | $2,353 | $3,356 | $4,690 | $6,120 |
Source: Ownwell