Warren, Maine Property Taxes
The median property tax rate in Warren, ME is 1.39%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Warren at $231,500, the typical annual property tax bill reaches $3,218, exceeding the national median of $2,690. Property taxes in Warren 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 Warren'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 Warren 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
Warren, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$3,218
Ownwell’s Warren Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warren with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warren 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 Knox County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Warren, Maine
Property taxes in Warren, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warren is 1.39%, significantly higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Warren set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warren 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 Warren's effective property tax rate to other counties in Maine and the national median. For comparison, the 04864 zip code has both the highest and lowest median property tax rate of 1.39%. Understanding how these cities compare with Warren 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 Warren Tax Rate
1.39%
Average Knox County Tax Rate
1.55%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warren, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04864 | 1.39% | 1.39% | 1.39% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Warren, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Warren, Maine. 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 Warren, 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 Warren is $231,500, and the property tax bills range from $2,365 at the 25th percentile to $5,067 at the 90th percentile. The highest and lowest median tax bills are both $3,218 in the 04864 zip code. Being aware of these valuation processes in Warren helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Warren Assessed Value
$231,500
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 Warren, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04864 | $106,000 | $170,150 | $231,500 | $291,750 | $364,500 |
Source: Ownwell
Property Tax Bills Across Warren, Maine
In Warren, located in Knox County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Warren is $231,500. Homeowners in this area can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $2,365, while the 75th percentile tax bill reaches $4,056, and the 90th percentile tax bill goes up to $5,067. These tax bills are influenced by several factors, including the assessed value of the property, which is determined by local assessors. The tax rate applied to this assessed value is another crucial factor. Homeowners in Warren should be aware that their property tax bills can have a substantial impact on their annual expenses. Comparing these figures to the national median property tax rate of 0.99%, it's clear that Warren's property taxes can be relatively high. This underscores the importance of understanding local property tax calculations and their implications for homeowners.
Average Warren Tax Bill
$3,218
Average Knox County Tax Bill
$3,340
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Warren, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04864 | $1,473 | $2,365 | $3,218 | $4,056 | $5,067 |
Source: Ownwell