Moxie Gore, Maine Property Taxes
The median property tax rate in Moxie Gore, ME is 0.76%, which is notably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Moxie Gore at $495,672, the typical annual property tax bill amounts to $3,782, surpassing the national median of $2,690. Property taxes in Moxie Gore are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Moxie Gore's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Moxie Gore or another part of Somerset County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moxie Gore, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$3,767
Ownwell’s Moxie Gore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moxie Gore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moxie Gore 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 Moxie Gore, Maine
Property taxes in Moxie Gore, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moxie Gore is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Moxie Gore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moxie Gore 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 Moxie Gore's effective property tax rate to other counties in Maine and the national median. For comparison, the 04985 zip code has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Moxie Gore 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 Moxie Gore Tax Rate
0.76%
Average Somerset County Tax Rate
1.77%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moxie Gore, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04985 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Moxie Gore, Maine
In Moxie Gore, 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 Moxie Gore, 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. The median home price here is $495,672, with tax bills ranging from $2,354 at the 25th percentile to $4,738 at the 90th percentile. 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 zip code with the highest and lowest median tax bill is 04985, with a median tax bill of $3,782. Being aware of these valuation processes in Moxie Gore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Moxie Gore Assessed Value
$495,672
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 Moxie Gore, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04985 | $196,366 | $308,606 | $495,672 | $573,986 | $620,974 |
Source: Ownwell
Property Tax Bills Across Moxie Gore, Maine
In Moxie Gore, Somerset 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’s office and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Moxie Gore, the median home price stands at $495,672. Property tax bills can vary significantly; the 25th percentile tax bill is $2,354, while the 75th percentile reaches $4,380, and the 90th percentile is $4,738. These figures indicate that homeowners in this region can expect a range of property tax obligations depending on their property's assessed value. The property tax rate in Moxie Gore is influenced by local government budgets and the need to fund public services such as schools, infrastructure, and emergency services. This means that property taxes play a crucial role in maintaining community services, directly impacting homeowners through their annual tax bills.
Average Moxie Gore Tax Bill
$3,782
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Moxie Gore, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04985 | $1,498 | $2,354 | $3,782 | $4,380 | $4,738 |
Source: Ownwell