Clifton, Maine Property Taxes
The median property tax rate in Clifton, ME is 1.43%, which is considerably higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Clifton, the typical annual property tax bill reaches $1,724, which is below the national median of $2,690. Property taxes in Clifton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clifton'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 Clifton 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
Clifton, 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 Clifton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clifton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clifton 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 Clifton, Maine
Property taxes in Clifton, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clifton is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Clifton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clifton 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 Clifton's effective property tax rate to other areas in Penobscot County and the national median. For comparison, the zip code 04428 has both the highest and lowest median property tax rate of 1.43%. Understanding how these areas compare with Clifton provides valuable insights into the varying tax landscape across Penobscot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clifton Tax Rate
1.43%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clifton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04428 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Clifton, Maine
In Clifton, 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 Penobscot 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 Clifton, 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 Clifton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Clifton is $1,724 in the 04428 zip code, which is also the lowest median tax bill.
Average Clifton Assessed Value
$120,550
Average Penobscot County Assessed Value
$141,580
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clifton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04428 | $50,400 | $78,625 | $120,550 | $170,775 | $249,350 |
Source: Ownwell
Property Tax Bills Across Clifton, Maine
Property tax bills in Clifton, located in Penobscot County, ME, are calculated based on the assessed value of a property and the local tax rate. The median home price in Clifton is $120,550. Property taxes are determined by multiplying the assessed value by the local tax rate, which is derived from the city's budgetary needs and state guidelines. Homeowners in Clifton can expect a range of tax bills, with the 25th percentile at $1,124 and the 75th percentile at $2,442. For those in the 90th percentile, tax bills can reach up to $3,566. Factors influencing the tax bill include property size, location, and improvements made to the property. These taxes fund essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Clifton's tax bills reflect the specific economic and administrative conditions of Penobscot County, affecting homeowners by contributing to both their annual expenses and the quality of local services.
Average Clifton Tax Bill
$1,724
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Clifton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04428 | $720 | $1,124 | $1,724 | $2,442 | $3,566 |
Source: Ownwell