Dennistown, Maine Property Taxes
The median property tax rate in Dennistown, ME is 1.00%, slightly higher than the national median of 0.99% but lower than Maine's state median of 1.57%. With a median home value of $210,900 in Dennistown, the typical annual property tax bill amounts to $2,109, which is below the national median of $2,690. Property taxes in Dennistown are calculated based on the assessed value, which is often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Dennistown'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 Dennistown 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
Dennistown, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$2,109
Ownwell’s Dennistown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dennistown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dennistown 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 Dennistown, Maine
Property taxes in Dennistown, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dennistown is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Dennistown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dennistown 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 Dennistown's effective property tax rate to other counties in Maine and the national median. For comparison, the 04945 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Dennistown provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dennistown Tax Rate
1.00%
Average Somerset County Tax Rate
1.77%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dennistown, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04945 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Dennistown, Maine
In Dennistown, 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 Somerset 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 Dennistown, 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 Dennistown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $210,900, with tax bills ranging from $1,756 at the 25th percentile to $3,177 at the 90th percentile. The highest and lowest median tax bills, both at $2,109, are found in the 04945 zip code.
Average Dennistown Assessed Value
$210,900
Average Somerset County Assessed Value
$105,900
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dennistown, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04945 | $136,300 | $175,650 | $210,900 | $245,650 | $317,700 |
Source: Ownwell
Property Tax Bills Across Dennistown, Maine
In Dennistown, Somerset County, ME, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Dennistown is $210,900, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors considered in this calculation include the property's market value, any exemptions or deductions you may qualify for, and the specific tax rate set by local authorities. Homeowners in Dennistown can expect property tax bills that vary depending on their home's assessed value. For instance, at the 25th percentile, the tax bill is around $1,756, while at the 75th percentile, it rises to approximately $2,456. Those at the 90th percentile could see tax bills as high as $3,177. Comparatively, the national median property tax rate is 0.99%, making Dennistown's property taxes relatively moderate. These taxes fund essential local services such as schools, roads, and emergency services, directly impacting the community's quality of life.
Average Dennistown Tax Bill
$2,109
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Dennistown, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04945 | $1,363 | $1,756 | $2,109 | $2,456 | $3,177 |
Source: Ownwell