Bowdoin, Maine Property Taxes
The median property tax rate in Bowdoin, ME is 1.69%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Bowdoin, the typical annual property tax bill reaches $3,147, exceeding the national median of $2,690. Property taxes in Bowdoin 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 Bowdoin'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 Bowdoin 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
Bowdoin, 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 Bowdoin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bowdoin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bowdoin 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 Bowdoin, Maine
Property taxes in Bowdoin, Maine, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bowdoin is 1.69%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bowdoin set these rates annually, and they can vary across different neighborhoods. Each year, Bowdoin 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 Bowdoin's effective property tax rate to other areas in Sagadahoc County and the national median. For comparison, the 04287 zip code has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these areas compare with Bowdoin provides valuable insights into the varying tax landscape across Sagadahoc County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bowdoin Tax Rate
1.69%
Average Sagadahoc County Tax Rate
1.54%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bowdoin, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04287 | 1.69% | 1.69% | 1.69% | 1.69% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Bowdoin, Maine
In Bowdoin, 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 Bowdoin, 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 Bowdoin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,147 in zip code 04287, while the lowest median tax bill is also $3,147 in the same zip code.
Average Bowdoin Assessed Value
$186,210
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 Bowdoin, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04287 | $80,570 | $129,580 | $186,210 | $236,470 | $287,100 |
Source: Ownwell
Property Tax Bills Across Bowdoin, Maine
In Bowdoin, located in Sagadahoc 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 and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Homeowners in Bowdoin experience a range of property tax bills. For instance, the tax bill at the 25th percentile is around $2,190, while at the 75th percentile, it reaches approximately $3,996. The 90th percentile tax bill can go up to $4,852. These figures indicate a significant variation in property taxes, depending on the property's assessed value and the applicable tax rate. The median home price in Bowdoin is $186,210, which, when compared to the national median property tax rate of 0.99%, highlights the local tax burden on homeowners. Understanding these factors helps property owners anticipate their tax liabilities and manage their finances effectively.
Average Bowdoin Tax Bill
$3,147
Average Sagadahoc County Tax Bill
$3,525
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowdoin, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04287 | $1,362 | $2,190 | $3,147 | $3,996 | $4,852 |
Source: Ownwell