Mount Chase, Maine Property Taxes
The median property tax rate in Mount Chase, ME is 1.80%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Mount Chase at $91,500, the typical annual property tax bill reaches $1,605, still lower than the national median of $2,690. Property taxes in Mount Chase 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 Mount Chase'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 Mount Chase 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
Mount Chase, 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 Mount Chase Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Chase with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Chase 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 Mount Chase, Maine
Property taxes in Mount Chase, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Chase is 1.80%, significantly higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Mount Chase set these rates annually, and they can vary across different neighborhoods. Each year, Mount Chase 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 Mount Chase's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04765 has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these cities compare with Mount Chase 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 Mount Chase Tax Rate
1.80%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Chase, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04765 | 1.80% | 1.80% | 1.80% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Mount Chase, Maine
In Mount Chase, 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 Mount Chase, 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 Mount Chase helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04765 has the highest and lowest median tax bill of $1,605.
Average Mount Chase Assessed Value
$91,500
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 Mount Chase, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04765 | $46,250 | $66,750 | $91,500 | $156,625 | $244,050 |
Source: Ownwell
Property Tax Bills Across Mount Chase, Maine
In Mount Chase, 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 local assessor's office and is meant to reflect the market value of the property. This value, combined with the tax rate, determines the annual property tax bill homeowners must pay. For instance, with a median home price of $91,500, homeowners in Mount Chase can expect varying tax bills. The tax bill at the 25th percentile is approximately $1,250, while those at the 75th percentile pay around $2,725. At the 90th percentile, the tax bill can go up to $4,374. These figures indicate a significant range in property tax bills, highlighting the impact of property values and tax rates on homeowners. Compared to the national median property tax rate of 0.99%, Mount Chase's property tax rates can be quite substantial, affecting how much homeowners need to budget annually for property taxes.
Average Mount Chase Tax Bill
$1,605
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Chase, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04765 | $878 | $1,250 | $1,605 | $2,725 | $4,374 |
Source: Ownwell