Islesford, Maine Property Taxes
The median property tax rate in Islesford, ME is 1.10%, slightly higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Islesford at $233,950, the typical annual property tax bill reaches $2,569, just below the national median of $2,690. Property taxes in Islesford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Islesford'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 Islesford 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
Islesford, 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 Islesford Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate annual property taxes in Islesford with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Islesford to project 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 the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Hancock County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Islesford, Maine
Property taxes in Islesford, Maine, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Islesford is 1.10%, higher than the U.S. national median of 0.99%. Local government entities within Islesford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Islesford 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 Islesford's effective property tax rate to other counties in Maine and the national median. For comparison, the 04646 zip code has the highest median property tax rate of 1.10%, while the same 04646 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Islesford 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 Islesford Tax Rate
1.10%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Islesford, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04646 | 1.10% | 1.10% | 1.10% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Islesford, Maine
In Islesford, 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 Islesford, 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 Islesford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04646 has the highest and lowest median tax bill of $2,569.
Average Islesford Assessed Value
$233,950
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 Islesford, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04646 | $143,300 | $206,525 | $233,950 | $334,050 | $373,530 |
Source: Ownwell
Property Tax Bills Across Islesford, Maine
In Islesford, located in Hancock County, ME, property tax bills are calculated based on the assessed value of a home. The median home price in Islesford is $233,950. Local tax authorities determine the assessed value, which is then multiplied by the local property tax rate to calculate the annual tax bill. The national median property tax rate is 0.99%, but local rates can vary. For instance, property tax bills in Islesford range significantly, with the 25th percentile at $2,268 and the 75th percentile at $3,668. The highest median tax bill in the area is $2,569, found in ZIP code 04646. Several factors influence the tax bill, including market conditions, property improvements, and local budget needs. These taxes fund essential services like schools, public safety, and infrastructure, directly impacting homeowners. Understanding how these elements interact helps homeowners anticipate their tax obligations and plan accordingly.
Average Islesford Tax Bill
$2,569
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Islesford, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04646 | $1,573 | $2,268 | $2,569 | $3,668 | $4,101 |
Source: Ownwell