Moxie Gore Twp, Maine Property Taxes
The median property tax rate in Moxie Gore Twp, ME is 0.78%, considerably 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 Twp at $89,160, the typical annual property tax bill reaches $698, significantly below the national median of $2,690. Property taxes in Moxie Gore Twp 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 Moxie Gore Twp'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 Moxie Gore Twp 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
Moxie Gore Twp, 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 Moxie Gore Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moxie Gore Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moxie Gore Twp 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 Twp, Maine
Property taxes in Moxie Gore TWP, 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 TWP is 0.78%, which is lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Moxie Gore TWP set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moxie Gore TWP 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 TWP'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 0.78%. Understanding how these cities compare with Moxie Gore TWP 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 Twp Tax Rate
0.78%
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 Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04985 | 0.77% | 0.77% | 0.78% | 0.79% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Moxie Gore Twp, Maine
In Moxie Gore Twp, 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 Twp, 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 in Moxie Gore Twp is $89,160, with the 25th percentile tax bill at $689 and the 75th percentile at $707. Interestingly, the highest and lowest median tax bills are both $698, found in the 04985 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Moxie Gore Twp Assessed Value
$89,160
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 Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04985 | $89,160 | $89,160 | $89,160 | $89,160 | $89,160 |
Source: Ownwell
Property Tax Bills Across Moxie Gore Twp, Maine
In Moxie Gore Township, Somerset County, ME, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value is typically a percentage of the market value of the home. For instance, with a median home price of $89,160, the tax bill can vary significantly. Homeowners in the 25th percentile of tax bills pay around $689, while those in the 75th percentile pay approximately $707. At the 90th percentile, the tax bill reaches about $712. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. The median property tax rate in this region is relatively low compared to the national median of 0.99%, making it more affordable for homeowners. Understanding these factors can help homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Moxie Gore Twp Tax Bill
$698
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 Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04985 | $684 | $689 | $698 | $707 | $712 |
Source: Ownwell