Dedham, Maine Property Taxes
The median property tax rate in Dedham, ME is 1.79%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Dedham at $315,955, the typical annual property tax bill reaches $5,640, exceeding the national median of $2,690. Property taxes in Dedham 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 Dedham'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 Dedham 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
Dedham, 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 Dedham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dedham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dedham 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 Dedham, Maine
Property taxes in Dedham, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dedham is 1.79%, significantly higher than the U.S. national median of 0.99%. Local government entities within Dedham set these rates annually, and they can vary across different neighborhoods. Each year, Dedham 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. For comparison, the 04429 zip code has the highest median property tax rate of 1.79% and the lowest median tax rate of 1.79%. Understanding how these rates compare with Dedham 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 Dedham Tax Rate
1.79%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dedham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04429 | 1.79% | 1.79% | 1.79% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Dedham, Maine
In Dedham, 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 local 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 Dedham, 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. For instance, the median home price in Dedham is $315,955, with tax bills ranging from $5,468 at the 25th percentile to $5,914 at the 90th percentile. The highest and lowest median tax bills, both at $5,640, are found in the 04429 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dedham Assessed Value
$315,955
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 Dedham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04429 | $300,591 | $306,352 | $315,955 | $325,558 | $331,319 |
Source: Ownwell
Property Tax Bills Across Dedham, Maine
In Dedham, Penobscot County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and typically reflects a percentage of the market value of the property. Homeowners in Dedham face property tax bills that vary significantly, with the 25th percentile at $5,468 and the 75th percentile at $5,812. The 90th percentile tax bill rises slightly to $5,914, indicating a range of tax burdens depending on property values and specific assessments. Factors influencing the tax bill include the property's location, size, and any improvements made. These elements contribute to the assessed value, which is then multiplied by the local tax rate to calculate the final tax bill. For homeowners, understanding these factors is crucial as they directly impact the annual financial obligation. Compared to the national median property tax rate of 0.99%, Dedham's tax bills are notably higher, reflecting the region's specific valuation and tax policies.
Average Dedham Tax Bill
$5,640
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Dedham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04429 | $5,366 | $5,468 | $5,640 | $5,812 | $5,914 |
Source: Ownwell