Pittsfield, Maine Property Taxes
The median property tax rate in Pittsfield, ME is 2.44%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Pittsfield at $88,000, the typical annual property tax bill reaches $2,150, which is below the national median of $2,690. Property taxes in Pittsfield 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 Pittsfield'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 Pittsfield 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
Pittsfield, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.44%
Estimate Property Tax Bill
$2,147
Ownwell’s Pittsfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pittsfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pittsfield 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 Pittsfield, Maine
Property taxes in Pittsfield, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pittsfield is 2.44%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Pittsfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pittsfield 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 Pittsfield's effective property tax rate to other areas in Somerset County and the national median. For comparison, the 04967 zip code has the highest median property tax rate of 2.44%, while the same zip code also has the lowest median tax rate of 2.44%. Understanding how these areas compare with Pittsfield 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 Pittsfield Tax Rate
2.44%
Average Somerset County Tax Rate
1.77%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pittsfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04967 | 2.44% | 2.44% | 2.44% | 2.44% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Pittsfield, Maine
In Pittsfield, 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 Pittsfield, 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 Pittsfield is $88,000, with tax bills ranging significantly across different percentiles. For instance, the 25th percentile tax bill is $1,351, while the 75th percentile tax bill is $3,050, and the 90th percentile tax bill reaches $4,075. Notably, the highest and lowest median tax bills in the area are both $2,150, found in zip code 04967. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pittsfield Assessed Value
$88,000
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 Pittsfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04967 | $30,540 | $55,300 | $88,000 | $125,000 | $167,000 |
Source: Ownwell
Property Tax Bills Across Pittsfield, Maine
In Pittsfield, ME, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $88,000, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. The tax bill in Pittsfield can range widely, with the 25th percentile at approximately $1,351 and the 75th percentile reaching up to $3,050. For those at the higher end, the 90th percentile tax bill can be as much as $4,075. This variability underscores the importance of accurate property assessments and the impact they have on homeowners. Compared to the national median property tax rate of 0.99%, Pittsfield's rates reflect the local economic conditions and funding needs for public services. Homeowners here must stay informed about their property assessments to ensure fair taxation and potentially appeal if discrepancies arise.
Average Pittsfield Tax Bill
$2,150
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Pittsfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04967 | $750 | $1,351 | $2,150 | $3,050 | $4,075 |
Source: Ownwell