South China, Maine Property Taxes
The median property tax rate in South China, ME is 1.04%, slightly higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With a median home value of $242,900 in South China, the typical annual property tax bill is around $2,526, which is below the national median of $2,690. Property taxes in South China are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding South China'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 South China or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South China, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,526
Ownwell's South China Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in South China with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South China to estimate your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across South China, Maine
Property taxes in South China, Maine, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in South China is 1.09%, higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within South China set these rates annually, and they can vary significantly across different neighborhoods. Each year, South China 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 South China's effective property tax rate to other counties in Maine and the national median. For comparison, the 04358 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with South China provides valuable insights into the varying tax landscape across Waldo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South China Tax Rate
1.04%
Average Waldo County Tax Rate
1.74%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across South China, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04358 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across South China, Maine
In South China, 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 Waldo 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 South China, 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 South China 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 $2526 in the 04358 zip code, while the lowest median tax bill is also $2526 in the same zip code.
Average South China Assessed Value
$242,900
Average Waldo County Assessed Value
$154,000
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South China, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04358 | $110,340 | $162,400 | $242,900 | $259,350 | $282,240 |
Source: Ownwell
Property Tax Bills Across South China, Maine
In South China, located in Waldo County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. For homeowners in this region, the median home price stands at $242,900. The property tax rate in South China is notably higher than the national median property tax rate of 0.99%. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate. For instance, the 25th percentile tax bill is $1,689, while the 75th percentile reaches $2,698. The 90th percentile tax bill is even higher at $2,936. These figures indicate a significant range in tax bills, reflecting differences in property values and the specific assessments conducted by local authorities. This variation in property tax bills can significantly impact homeowners, influencing their annual financial planning and overall affordability of homeownership. Understanding these factors is crucial for homeowners to anticipate their expenses and manage their budgets effectively.
Average South China Tax Bill
$2,526
Average Waldo County Tax Bill
$2,632
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across South China, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04358 | $1,147 | $1,689 | $2,526 | $2,698 | $2,936 |
Source: Ownwell