Arrowsic, Maine Property Taxes
The median property tax rate in Arrowsic, ME is 1.05%, slightly higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With a median home value of $277,700 in Arrowsic, the typical annual property tax bill amounts to $2,915, surpassing the national median of $2,690. Property taxes in Arrowsic are calculated based on the tax assessed value, which often falls below market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Arrowsic'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 Arrowsic 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
Arrowsic, 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 Arrowsic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arrowsic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arrowsic 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 Arrowsic, Maine
Property taxes in Arrowsic, ME, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arrowsic is 1.05%, higher than the U.S. national median of 0.99%. Local government entities within Arrowsic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arrowsic 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 Arrowsic's effective property tax rate to other counties in Maine and the national median. For comparison, the 04530 zip code has the highest median property tax rate of 1.05%, while the 04530 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Arrowsic provides valuable insights into the varying tax landscape across Sagadahoc, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arrowsic Tax Rate
1.05%
Average Sagadahoc County Tax Rate
1.54%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arrowsic, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04530 | 1.04% | 1.04% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Arrowsic, Maine
In Arrowsic, 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 Sagadahoc 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 Arrowsic, 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 Arrowsic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sagadahoc County is $2,915 in the 04530 zip code, while the lowest median tax bill is also $2,915 in the same zip code.
Average Arrowsic Assessed Value
$277,700
Average Sagadahoc County Assessed Value
$236,900
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arrowsic, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04530 | $121,520 | $192,400 | $277,700 | $430,025 | $564,410 |
Source: Ownwell
Property Tax Bills Across Arrowsic, Maine
In Arrowsic, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The median home price in Arrowsic is $277,700. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $2,041 and the 75th percentile reaching $4,534. The highest median tax bill recorded in Sagadahoc County, where Arrowsic is located, is $2,915. Several factors influence the tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. The assessed value is typically a percentage of the market value, and the local tax rate is applied to this assessed value to determine the final bill. For homeowners, this means that fluctuations in property values and changes in tax rates can significantly affect their annual tax obligations. Compared to the national median property tax rate of 0.99%, Arrowsic homeowners may find their tax bills to be relatively moderate or high, depending on their property's assessed value.
Average Arrowsic Tax Bill
$2,915
Average Sagadahoc County Tax Bill
$3,525
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Arrowsic, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04530 | $1,288 | $2,041 | $2,915 | $4,534 | $5,908 |
Source: Ownwell