Mason Twp, Maine Property Taxes
The median property tax rate in Mason Twp, ME is 0.93%, slightly below the national median of 0.99% but significantly lower than the Maine state median of 1.57%. With the median home value in Mason Twp at $171,700, the typical annual property tax bill amounts to $1,598, which is well below the national median of $2,690. Property taxes in Mason Twp are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mason Twp'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 Mason Twp or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mason Twp, 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 Mason Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mason Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mason Twp 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 Mason Twp, Maine
Property taxes in Mason Twp, Maine, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Mason Twp is 0.93%, which is slightly below the U.S. national median of 0.99%. Local government entities within Mason Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mason Twp 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 Mason Twp's effective property tax rate to other regions in Maine and the national median. For comparison, the zip code 04217 in Oxford County has the same median property tax rate of 0.93%. Understanding how these areas compare with Mason Twp 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 Mason Twp Tax Rate
0.93%
Average Oxford County Tax Rate
1.50%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mason Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04217 | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Mason Twp, Maine
In Mason Township, 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 Mason Township, 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 Mason Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Mason Township is $1,598 in zip code 04217.
Average Mason Twp Assessed Value
$171,700
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 Mason Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04217 | $94,778 | $129,742 | $171,700 | $221,922 | $349,998 |
Source: Ownwell
Property Tax Bills Across Mason Twp, Maine
In Mason Township, located in Oxford County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Mason Township is $171,700. To determine the tax bill, the local tax rate is applied to the assessed value of the property. Homeowners in Mason Township can expect varying tax bills depending on the value of their homes and the specific tax rate applied. For example, the 25th percentile tax bill is $1,208, indicating that a quarter of homeowners pay this amount or less. On the higher end, the 75th percentile tax bill is $2,066, and the 90th percentile tax bill reaches $3,258. These figures illustrate the range of property tax burdens that homeowners may face. Comparatively, the highest and lowest median tax bills in the area are both $1,598, which is above the national median property tax rate of 0.99%. This means that property taxes in Mason Township can significantly impact household budgets, especially for those with higher-valued properties.
Average Mason Twp Tax Bill
$1,598
Average Oxford County Tax Bill
$2,200
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Mason Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04217 | $882 | $1,208 | $1,598 | $2,066 | $3,258 |
Source: Ownwell