Greenbush, Maine Property Taxes
The median property tax rate in Greenbush, ME is 2.08%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Greenbush at $79,300, the typical annual property tax bill reaches $1,649, exceeding the national median of $2,690. Property taxes in Greenbush 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 Greenbush'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 Greenbush 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
Greenbush, 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 Greenbush Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenbush with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenbush 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 Greenbush, Maine
Property taxes in Greenbush, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenbush is 2.08%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Greenbush set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenbush 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 Greenbush's effective property tax rate to other counties in Maine and the national median. For comparison, the 04418 zip code has the highest median property tax rate of 2.08%, while the same zip code also has the lowest median tax rate of 2.08%. Understanding how these cities compare with Greenbush 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 Greenbush Tax Rate
2.08%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenbush, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04418 | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Greenbush, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Greenbush, Maine. 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 Greenbush, 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. The median home price in Greenbush is $79,300, with tax bills ranging from $1,025 at the 25th percentile to $2,885 at the 90th percentile. The zip code 04418 has both the highest and lowest median tax bill of $1,649. Being aware of these valuation processes in Greenbush helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenbush Assessed Value
$79,300
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 Greenbush, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04418 | $26,880 | $49,300 | $79,300 | $109,400 | $138,700 |
Source: Ownwell
Property Tax Bills Across Greenbush, Maine
In Greenbush, located in 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 town's assessor and reflects the market value of the property. For instance, with a median home price of $79,300, homeowners can expect their property tax bills to vary significantly. The tax bill is influenced by several factors, including the home's assessed value, any applicable exemptions, and the local tax rate. In Greenbush, the 25th percentile tax bill is around $1,025, while the 75th percentile tax bill is approximately $2,276. At the 90th percentile, homeowners might see tax bills as high as $2,885. These figures highlight the range of property tax burdens within the area. Compared to the national median property tax rate of 0.99%, Greenbush's tax rates can significantly impact homeowners, making it crucial for them to understand their property's assessed value and any potential exemptions they might qualify for.
Average Greenbush Tax Bill
$1,649
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenbush, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04418 | $559 | $1,025 | $1,649 | $2,276 | $2,885 |
Source: Ownwell