East Andover, Maine Property Taxes
The median property tax rate in East Andover, ME is 1.55%, which is considerably higher than the national median of 0.99% but slightly lower than the Maine state median of 1.57%. With a median home value of $109,932, the typical annual property tax bill in East Andover reaches $1,704, surpassing the national median of $2,690. Property taxes in East Andover are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding East Andover'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 East Andover 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
East Andover, 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 East Andover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Andover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Andover 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 East Andover, Maine
Property taxes in East Andover, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Andover is 1.55%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within East Andover set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Andover 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 East Andover's effective property tax rate to other counties in Maine and the national median. For comparison, the 04226 zip code has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with East Andover 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 East Andover Tax Rate
1.55%
Average Oxford County Tax Rate
1.50%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Andover, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04226 | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across East Andover, Maine
In East Andover, 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 East Andover, 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 East Andover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04226 has both the highest and lowest median tax bill at $1,704, reflecting the uniformity in tax assessments across the area.
Average East Andover Assessed Value
$109,932
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 East Andover, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04226 | $66,494 | $79,931 | $109,932 | $165,965 | $194,014 |
Source: Ownwell
Property Tax Bills Across East Andover, Maine
In East Andover, ME, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by the county of Oxford. For instance, with a median home price of $109,932, homeowners can expect a tax bill that varies significantly. The 25th percentile tax bill is around $1,239, while the 75th percentile reaches up to $2,572, and the 90th percentile can be as high as $3,007. These figures indicate a broad range of tax liabilities, influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, East Andover's rates may seem high, but they reflect the specific economic and infrastructural needs of the area. This variability in tax bills can significantly impact homeowners, affecting their annual budgeting and long-term financial planning.
Average East Andover Tax Bill
$1,704
Average Oxford County Tax Bill
$2,200
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across East Andover, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04226 | $1,031 | $1,239 | $1,704 | $2,572 | $3,007 |
Source: Ownwell