Trevett, Maine Property Taxes
The median property tax rate in Trevett, ME is 1.00%, slightly higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With a median home value in Trevett of $257,764, the typical annual property tax bill is $2,591, which is below the national median of $2,690. Property taxes in Trevett are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Trevett'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 Trevett 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
Trevett, 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 Trevett Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Trevett with just two simple inputs. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Trevett to provide an accurate estimate of your property tax bill. This valuable tool allows you to comprehend your potential tax obligations more clearly. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Trevett, Maine
Property taxes in Trevett, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trevett is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Trevett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trevett 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 Trevett's effective property tax rate to other areas within Lincoln County and the national median. For comparison, the zip code 04571 has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Trevett provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trevett Tax Rate
1.00%
Average Lincoln County Tax Rate
1.40%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trevett, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04571 | 1.00% | 1.00% | 1.00% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Trevett, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Trevett, 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 Lincoln 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 Trevett, 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. For instance, the highest median tax bill in Trevett stands at $2,591 in the zip code 04571, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Trevett Assessed Value
$257,764
Average Lincoln County Assessed Value
$224,290
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trevett, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04571 | $99,182 | $157,498 | $257,764 | $462,894 | $769,995 |
Source: Ownwell
Property Tax Bills Across Trevett, Maine
In Trevett, Lincoln County, ME, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates your property's market value. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. For homeowners in Trevett, the median home price is $257,764, and tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $1,583, while at the 75th percentile, it rises to $4,652. The 90th percentile tax bill can be as high as $7,739. These figures highlight the variability in property tax bills, which can be influenced by factors such as property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Trevett's property tax rates can be a substantial financial consideration for homeowners, affecting their overall cost of living and financial planning.
Average Trevett Tax Bill
$2,591
Average Lincoln County Tax Bill
$2,866
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Trevett, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04571 | $997 | $1,583 | $2,591 | $4,652 | $7,739 |
Source: Ownwell