Stockton Springs, Maine Property Taxes
The median property tax rate in Stockton Springs, ME is 2.22%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Stockton Springs at $137,320, the typical annual property tax bill reaches $3,037, exceeding the national median of $2,690. Property taxes in Stockton Springs 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 Stockton Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Stockton Springs 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
Stockton Springs, 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 Stockton Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stockton Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stockton Springs 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 Stockton Springs, Maine
Property taxes in Stockton Springs, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stockton Springs is 2.22%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Stockton Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stockton Springs 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 Stockton Springs' effective property tax rate to other counties in Maine and the national median. For comparison, the 04981 zip code has the highest median property tax rate of 2.22%, while the same zip code also has the lowest median tax rate of 2.22%. Understanding how these cities compare with Stockton Springs 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 Stockton Springs Tax Rate
2.22%
Average Waldo County Tax Rate
1.74%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stockton Springs, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04981 | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Stockton Springs, Maine
In Stockton Springs, 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 Stockton Springs, 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 Stockton Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04981 has the highest median tax bill at $3,037, while the lowest median tax bill is also $3,037.
Average Stockton Springs Assessed Value
$137,320
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 Stockton Springs, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04981 | $56,396 | $89,330 | $137,320 | $199,980 | $269,798 |
Source: Ownwell
Property Tax Bills Across Stockton Springs, Maine
In Stockton Springs, located in Waldo County, ME, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. The tax rate, often referred to as the mill rate, is set by local government authorities and is applied to the assessed value to calculate the tax bill. Homeowners in Stockton Springs can expect property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $1,982, while at the 75th percentile, it can reach approximately $4,428. At the 90th percentile, the tax bill can soar to about $5,991. The highest median tax bill in the area is $3,037, which is notably higher than the national median property tax rate of 0.99%. These figures highlight the impact of property taxes on homeowners, influencing their overall housing costs and financial planning.
Average Stockton Springs Tax Bill
$3,037
Average Waldo County Tax Bill
$2,632
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Stockton Springs, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04981 | $1,234 | $1,982 | $3,037 | $4,428 | $5,991 |
Source: Ownwell