Bryant Pond, Maine Property Taxes
The median property tax rate in Bryant Pond, ME is 1.41%, which is considerably higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With a median home value of $112,580 in Bryant Pond, the typical annual property tax bill reaches $1,484, which is below the national median of $2,690. Property taxes in Bryant Pond are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Bryant Pond'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 Bryant Pond or another part of Oxford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bryant Pond, 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 Bryant Pond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bryant Pond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bryant Pond 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 Bryant Pond, Maine
Property taxes in Bryant Pond, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bryant Pond is 1.41%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Bryant Pond set these rates annually, and they can vary considerably across different neighborhoods. Each year, Bryant Pond 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 Bryant Pond's effective property tax rate to other counties in Maine and the national median. For comparison, the 04219 zip code has both the highest and lowest median property tax rate of 1.41%. Understanding how these areas compare with Bryant Pond 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 Bryant Pond Tax Rate
1.41%
Average Oxford County Tax Rate
1.50%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bryant Pond, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04219 | 1.22% | 1.22% | 1.41% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Bryant Pond, Maine
In Bryant Pond, 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 Bryant Pond, 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 Bryant Pond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04219 has both the highest and lowest median tax bill recorded at $1,484.
Average Bryant Pond Assessed Value
$112,580
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 Bryant Pond, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04219 | $60,082 | $93,659 | $112,580 | $144,945 | $193,620 |
Source: Ownwell
Property Tax Bills Across Bryant Pond, Maine
In Bryant Pond, Oxford County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value, considering factors like location, property size, and home condition. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Bryant Pond, the median home price is $112,580. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,321 and the 75th percentile at $1,850. The 90th percentile tax bill reaches $2,475. These figures show that property taxes can represent a substantial annual expense for homeowners, impacting their overall cost of living. Comparatively, Oxford County's median tax bill of $1,484 is higher than the national median property tax rate of 0.99%, reflecting the specific local tax rates and property values. Understanding these factors can help homeowners better anticipate their financial obligations.
Average Bryant Pond Tax Bill
$1,484
Average Oxford County Tax Bill
$2,200
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Bryant Pond, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04219 | $850 | $1,321 | $1,484 | $1,850 | $2,475 |
Source: Ownwell