Washington, Maine Property Taxes
The median property tax rate in Washington, ME is 1.56%, slightly lower than the state median of 1.57% but significantly higher than the national median of 0.99%. With a median home value of $163,950, the typical annual property tax bill in Washington reaches $2,558, which is just below the national median of $2,690. Property taxes in Washington are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Washington's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Washington or another part of the city, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Washington, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$2,558
Ownwell’s Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington 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 Washington, Maine
Property taxes in Washington, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington is 1.56%, significantly higher than the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other counties in Maine and the national median. For comparison, the 04574 zip code has the highest median property tax rate of 1.56%, while the 04574 zip code also has the lowest median tax rate of 1.56%. Understanding how these areas compare with Washington 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 Washington Tax Rate
1.56%
Average Knox County Tax Rate
1.55%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04574 | 1.56% | 1.56% | 1.56% | 1.56% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Washington, Maine
In Washington, 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 local 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 Washington, 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 Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,558 in the 04574 zip code, while the lowest median tax bill is also $2,558 in the same zip code.
Average Washington Assessed Value
$163,950
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 Washington, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04574 | $67,590 | $115,200 | $163,950 | $205,225 | $248,190 |
Source: Ownwell
Property Tax Bills Across Washington, Maine
Property tax bills in Washington, located in Knox County, ME, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value, determined by the local assessor. This value is then multiplied by the tax rate to calculate the annual tax bill. For example, with a median home price of $163,950, the property tax rate in Washington translates to a significant annual tax bill for homeowners. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Washington see tax bills ranging from $1,798 at the 25th percentile to $3,872 at the 90th percentile, reflecting the variability based on property characteristics and assessed values. Comparatively, the highest and lowest median tax bills in the area are both $2,558, highlighting the consistency within certain zip codes. These property taxes fund essential local services, such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Washington Tax Bill
$2,558
Average Knox County Tax Bill
$3,340
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04574 | $1,055 | $1,798 | $2,558 | $3,201 | $3,872 |
Source: Ownwell