Rockland, Maine Property Taxes
The median property tax rate in Rockland, ME is 2.43%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Rockland, the typical annual property tax bill reaches $4,318, exceeding the national median of $2,690. Property taxes in Rockland 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 Rockland'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 Rockland 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
Rockland, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.43%
Estimate Property Tax Bill
$4,325
Ownwell’s Rockland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockland 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 Rockland, Maine
Property taxes in Rockland, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockland is 1.32%, significantly higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Rockland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockland 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 Rockland's effective property tax rate to other counties in Maine and the national median. For comparison, the 04841 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Rockland provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rockland Tax Rate
2.43%
Average Knox County Tax Rate
1.55%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockland, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04841 | 2.43% | 2.43% | 2.43% | 2.43% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Rockland, Maine
In Rockland, 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 Knox 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 Rockland, 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 Rockland is $178,000, with tax bills ranging from $3,426 at the 25th percentile to $7,361 at the 90th percentile. The highest and lowest median tax bills are both $4,318, found in the 04841 zip code. 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 Rockland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rockland Assessed Value
$178,000
Average Knox County Assessed Value
$198,500
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rockland, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04841 | $109,520 | $141,150 | $178,000 | $226,600 | $303,260 |
Source: Ownwell
Property Tax Bills Across Rockland, Maine
In Rockland, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Various factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. For homeowners in Rockland, the median home price stands at $178,000. Property tax bills can vary widely, with the 25th percentile tax bill at $3,426 and the 75th percentile at $5,497. At the 90th percentile, tax bills can reach up to $7,361. The highest and lowest median tax bills in Rockland both stand at $4,318, which is significantly higher than the national median property tax rate of 0.99%. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Rockland residents.
Average Rockland Tax Bill
$4,318
Average Knox County Tax Bill
$3,340
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockland, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04841 | $2,658 | $3,426 | $4,318 | $5,497 | $7,361 |
Source: Ownwell