Plymouth, Maine Property Taxes
The median property tax rate in Plymouth, Maine is 1.60%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Plymouth, the typical annual property tax bill reaches $1,867, which is below the national median of $2,690. Property taxes in Plymouth 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 Plymouth'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 Plymouth 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
Plymouth, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$1,867
Ownwell’s Plymouth Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Plymouth with just two simple data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Plymouth to provide an estimated property tax bill. This valuable tool helps you gain a clear understanding of your potential tax liabilities. For those interested in more granular details, scroll down to explore trends at the neighborhood level. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Plymouth, Maine
Property taxes in Plymouth, Maine, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Plymouth is 1.60%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plymouth 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 Plymouth's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04969 has the highest median property tax rate of 1.60%, while the lowest median tax rate is also found in zip code 04969 at 1.60%. Understanding how these areas compare with Plymouth 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 Plymouth Tax Rate
1.60%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plymouth, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04969 | 1.60% | 1.60% | 1.60% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Plymouth, ME. 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 Plymouth, 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. The median home price in Plymouth is $116,670, with tax bills ranging from $1,264 at the 25th percentile to $3,423 at the 90th percentile. The highest and lowest median tax bill is $1,867, found in zip code 04969. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Plymouth Assessed Value
$116,670
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 Plymouth, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04969 | $54,530 | $78,990 | $116,670 | $165,500 | $213,950 |
Source: Ownwell
Property Tax Bills Across Plymouth, Maine
Property tax bills in Plymouth, located in Penobscot County, ME, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the city’s assessment office, which evaluates the property’s market value. This value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Plymouth can expect to pay property taxes that vary significantly. For instance, the 25th percentile tax bill is $1,264, while the 75th percentile tax bill rises to $2,648, and the 90th percentile tax bill reaches $3,423. Comparatively, Plymouth's property tax rates can be higher than the national median property tax rate of 0.99%. This variation in tax bills can significantly affect homeowners, impacting their annual budget and the overall cost of owning a home in the area.
Average Plymouth Tax Bill
$1,867
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Plymouth, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04969 | $872 | $1,264 | $1,867 | $2,648 | $3,423 |
Source: Ownwell