Harmony, Maine Property Taxes
The median property tax rate in Harmony, ME is 1.75%, significantly higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Harmony, the typical annual property tax bill reaches $1,311, exceeding the national median of $2,690. Property taxes in Harmony 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 Harmony'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 Harmony 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
Harmony, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$1,311
Ownwell’s Harmony Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harmony with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harmony 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 Harmony, Maine
Property taxes in Harmony, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harmony is 1.75%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Harmony set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harmony 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 Harmony's effective property tax rate to other counties in Maine and the national median. For comparison, the 04942 zip code has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these cities compare with Harmony provides valuable insights into the varying tax landscape across Piscataquis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harmony Tax Rate
1.75%
Average Piscataquis County Tax Rate
2.00%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harmony, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04942 | 1.75% | 1.75% | 1.75% | 1.75% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Harmony, Maine
In Harmony, 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 Harmony, 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 highest and lowest median tax bills in Harmony are both $1,311, found in the zip code 04942. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harmony Assessed Value
$74,920
Average Piscataquis County Assessed Value
$100,500
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harmony, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04942 | $52,192 | $60,715 | $74,920 | $89,125 | $97,648 |
Source: Ownwell
Property Tax Bills Across Harmony, Maine
In Harmony, property tax bills are determined based on the assessed value of a home and the local tax rate set by Piscataquis County. The assessed value is an estimate of the property's market value, which is periodically updated to reflect current market conditions. Homeowners in Harmony experience property tax bills that vary widely, with the 25th percentile bill at $1,062 and the 75th percentile reaching $1,560. For those at the 90th percentile, the tax bill can be as high as $1,709. The median home price in Harmony is $74,920, and the local tax rate is a crucial factor in calculating the final tax bill. Compared to the national median property tax rate of 0.99%, Harmony's rates can be considered relatively moderate. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance, directly impacting the quality of life for residents. Homeowners should be aware of these factors to better understand their property tax obligations and potential opportunities for tax appeals or exemptions.
Average Harmony Tax Bill
$1,311
Average Piscataquis County Tax Bill
$1,766
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Harmony, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04942 | $913 | $1,062 | $1,311 | $1,560 | $1,709 |
Source: Ownwell