Georgetown, Maine Property Taxes
The median property tax rate in Georgetown, ME is 0.88%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Georgetown at $322,200, the typical annual property tax bill reaches $2,848, slightly above the national median of $2,690. Property taxes in Georgetown 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 Georgetown'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 Georgetown 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
Georgetown, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$2,835
Ownwell’s Georgetown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Georgetown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Georgetown 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 Georgetown, Maine
Property taxes in Georgetown, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Georgetown is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Georgetown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Georgetown 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 Georgetown's effective property tax rate to other counties in Maine and the national median. For comparison, the 04548 zip code has the highest median property tax rate of 0.88%, while the same 04548 zip code also has the lowest median tax rate of 0.88%. Understanding how these areas compare with Georgetown 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 Georgetown Tax Rate
0.88%
Average Sagadahoc County Tax Rate
1.54%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Georgetown, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04548 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Georgetown, Maine
In Georgetown, 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 Georgetown, 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. Georgetown's highest median tax bill is $2,848 in zip code 04548, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Georgetown Assessed Value
$322,200
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 Georgetown, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04548 | $179,720 | $226,800 | $322,200 | $506,000 | $772,580 |
Source: Ownwell
Property Tax Bills Across Georgetown, Maine
In Georgetown, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Sagadahoc County. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Georgetown face varying tax bills, with the 25th percentile paying around $2,005 annually, while those in the 75th percentile pay approximately $4,473. For the 90th percentile, the tax bill can soar to about $6,830. The highest and lowest median tax bills in the area both stand at $2,848, specifically in the 04548 zip code. These tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Georgetown's rates can be relatively high, affecting affordability and potentially influencing property values and market dynamics in the region. Homeowners must consider these factors when budgeting and making long-term financial decisions.
Average Georgetown Tax Bill
$2,848
Average Sagadahoc County Tax Bill
$3,525
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Georgetown, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04548 | $1,589 | $2,005 | $2,848 | $4,473 | $6,830 |
Source: Ownwell