Seboomook Twp, Maine Property Taxes
The median property tax rate in Seboomook Twp, ME is 0.76%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Seboomook Twp, the typical annual property tax bill reaches $1,196, well below the national median of $2,690. Property taxes in Seboomook 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 Seboomook 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 Seboomook 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
Seboomook 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 Seboomook Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seboomook Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seboomook 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 Seboomook Twp, Maine
Property taxes in Seboomook Twp, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seboomook Twp is 0.76%, lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Seboomook Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seboomook 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 Seboomook Twp's effective property tax rate to other counties in Maine and the national median. For comparison, the 04478 zip code has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Seboomook 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 Seboomook 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 Seboomook Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04478 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Seboomook Twp, Maine
In Seboomook 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 Seboomook 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. 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 Seboomook Twp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1196 in zip code 04478, while the lowest median tax bill is also $1196 in the same zip code.
Average Seboomook Twp Assessed Value
$156,770
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 Seboomook Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04478 | $126,002 | $137,540 | $156,770 | $176,000 | $187,538 |
Source: Ownwell
Property Tax Bills Across Seboomook Twp, Maine
In Seboomook Twp, 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 local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in Seboomook Twp, the median home price stands at $156,770. With the national median property tax rate at 0.99%, homeowners in this region experience varying tax bills. For instance, the tax bill at the 25th percentile is $1,050, while at the 75th percentile, it rises to $1,343. The 90th percentile sees tax bills reaching up to $1,431. These property taxes fund essential local services such as public schools, infrastructure, and emergency services. Therefore, understanding how these bills are calculated helps homeowners anticipate their financial obligations and the benefits provided by these taxes.
Average Seboomook Twp Tax Bill
$1,196
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Seboomook Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04478 | $962 | $1,050 | $1,196 | $1,343 | $1,431 |
Source: Ownwell