Parlin Pond Twp, Maine Property Taxes
The median property tax rate in Parlin Pond Twp, ME is 0.76%, notably lower than both the national median of 0.99% and the Maine state median of 1.57%. With a median home value of $245,930 in Parlin Pond Twp, the typical annual property tax bill amounts to $1,876, which is significantly less than the national median of $2,690. Property taxes in Parlin Pond Twp are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Parlin Pond Twp's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Parlin Pond Twp or another part of Somerset County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Parlin Pond Twp, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,869
Ownwell’s Parlin Pond Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parlin Pond Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parlin Pond 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 Parlin Pond Twp, Maine
Property taxes in Parlin Pond 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 Parlin Pond Twp is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Parlin Pond Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parlin Pond 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 Parlin Pond Twp'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 0.76%. Understanding how these cities compare with Parlin Pond 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 Parlin Pond Twp 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 Parlin Pond Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04945 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Parlin Pond Twp, Maine
In Parlin Pond 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. 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 Parlin Pond Twp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $245,930, with tax bills ranging from $1,842 at the 25th percentile to $2,577 at the 90th percentile. The highest and lowest median tax bills are both $1,876 in zip code 04945.
Average Parlin Pond Twp Assessed Value
$245,930
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 Parlin Pond Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04945 | $238,730 | $241,430 | $245,930 | $303,300 | $337,722 |
Source: Ownwell
Property Tax Bills Across Parlin Pond Twp, Maine
In Parlin Pond Township, located in Somerset County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $245,930. Homeowners can expect their tax bills to vary, with the 25th percentile at $1,842 and the 75th percentile reaching $2,314. The 90th percentile tax bill can go up to $2,577. These figures highlight the range of property tax burdens residents might face. To determine the tax bill, assessors first evaluate the market value of the property. This assessed value is then multiplied by the local tax rate to calculate the annual property tax. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly. Compared to the national median property tax rate of 0.99%, Parlin Pond Township's rates are relatively aligned, offering a balanced fiscal environment for its residents.
Average Parlin Pond Twp Tax Bill
$1,876
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Parlin Pond Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04945 | $1,822 | $1,842 | $1,876 | $2,314 | $2,577 |
Source: Ownwell