Milton Twp, Maine Property Taxes
The median property tax rate in Milton Twp, ME is 0.93%, slightly below the national median of 0.99% and significantly lower than the Maine state median of 1.57%. With a median home value of $133,240 in Milton Twp, the typical annual property tax bill amounts to $1,240, which is less than the national median of $2,690. Property taxes in Milton Twp are determined based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Milton 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 Milton 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
Milton 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 Milton Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milton Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milton 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 Milton Twp, Maine
Property taxes in Milton Twp, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milton Twp is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Milton Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milton 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 Milton Twp's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04219 has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Milton 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 Milton 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 Milton Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04219 | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Milton Twp, Maine
In Milton 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. Assessment notices in Milton Township 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 Milton Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 04219, with a median tax bill of $1,240.
Average Milton Twp Assessed Value
$133,240
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 Milton Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04219 | $29,690 | $57,972 | $133,240 | $178,252 | $224,670 |
Source: Ownwell
Property Tax Bills Across Milton Twp, Maine
Property tax bills in Milton Township, Oxford County, ME are calculated based on the assessed value of a property and the local tax rate. The local tax rate is applied to the assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. In Milton Township, the median home price is $133,240. Homeowners in this area can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $560, while at the 75th percentile, it rises to $1,660. At the 90th percentile, the tax bill can reach $2,104. The highest and lowest median tax bills in the township are both recorded at $1,240, indicating a consistent tax rate across different properties. Comparatively, the national median property tax rate is 0.99%, making Milton Township's rates a critical factor for homeowners to consider. Higher property taxes can impact affordability and overall cost of living, influencing decisions on property investments and long-term residency.
Average Milton Twp Tax Bill
$1,240
Average Oxford County Tax Bill
$2,200
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Milton Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04219 | $276 | $560 | $1,240 | $1,660 | $2,104 |
Source: Ownwell