Bethel, Maine Property Taxes
The median property tax rate in Bethel, ME, is 1.22%, notably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Bethel at $212,450, the typical annual property tax bill reaches $2,600, slightly below the national median of $2,690. Property taxes in Bethel 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 Bethel'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 Bethel 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
Bethel, 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 Bethel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bethel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethel 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 Bethel, Maine
Property taxes in Bethel, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethel is 1.22%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Bethel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethel 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 Bethel's effective property tax rate to other counties in Maine and the national median. For comparison, the 04217 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Bethel provides valuable insights into the varying tax landscape across Oxford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethel Tax Rate
1.22%
Average Oxford County Tax Rate
1.50%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethel, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04217 | 1.22% | 1.22% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Bethel, Maine
In Bethel, 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 Oxford 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 Bethel, 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 Bethel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $2,600 in the 04217 zip code.
Average Bethel Assessed Value
$212,450
Average Oxford County Assessed Value
$138,018
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethel, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04217 | $113,060 | $154,275 | $212,450 | $299,575 | $412,870 |
Source: Ownwell
Property Tax Bills Across Bethel, Maine
In Bethel, located in Oxford County, ME, property tax bills are calculated based on the assessed value of a property, which reflects its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including property size, location, and condition. For homeowners in Bethel, the median home price stands at $212,450, and property tax bills can vary significantly. For instance, at the 25th percentile, the tax bill is approximately $1,884, while at the 75th percentile, it rises to around $3,663. At the 90th percentile, homeowners might see tax bills as high as $5,054. These figures highlight the range of tax burdens faced by property owners in Bethel. With the national median property tax rate at 0.99%, understanding these local variations is crucial for homeowners to budget effectively and anticipate their financial obligations.
Average Bethel Tax Bill
$2,600
Average Oxford County Tax Bill
$2,200
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethel, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04217 | $1,382 | $1,884 | $2,600 | $3,663 | $5,054 |
Source: Ownwell