South Paris, Maine Property Taxes
The median property tax rate in South Paris, ME is 1.48%, which is higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in South Paris at $166,500, the typical annual property tax bill reaches $2,473, slightly below the national median of $2,690. Property taxes in South Paris are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding South Paris's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of South Paris or another part of Oxford County, a thorough grasp of the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
South Paris, 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 SOUTH PARIS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SOUTH PARIS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SOUTH PARIS 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 South Paris, Maine
Property taxes in South Paris, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Paris is 1.48%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within South Paris set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Paris 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 South Paris's effective property tax rate to other counties in Maine and the national median. For comparison, the 04281 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these figures compare with South Paris 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 South Paris Tax Rate
1.48%
Average Oxford County Tax Rate
1.50%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Paris, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04281 | 1.48% | 1.48% | 1.48% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across South Paris, Maine
In South Paris, 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 South Paris, 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 South Paris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04281 in South Paris has both the highest and lowest median tax bill, valued at $2,473.
Average South Paris Assessed Value
$166,500
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 South Paris, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04281 | $78,460 | $124,550 | $166,500 | $220,350 | $286,490 |
Source: Ownwell
Property Tax Bills Across South Paris, Maine
In South Paris, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor, who evaluates the property's market value and then applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, in Oxford County, the median home price is $166,500, which gives homeowners an idea of what their property might be worth. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in South Paris can expect a wide range in their tax bills, with the 25th percentile at $1,849 and the 75th percentile at $3,272. For those at the 90th percentile, the tax bill can go up to $4,255. Comparatively, the national median property tax rate is 0.99%, making it essential for local homeowners to understand how their specific tax rate impacts their finances.
Average South Paris Tax Bill
$2,473
Average Oxford County Tax Bill
$2,200
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across South Paris, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04281 | $1,165 | $1,849 | $2,473 | $3,272 | $4,255 |
Source: Ownwell