Big Lake Twp, Maine Property Taxes
The median property tax rate in Big Lake Twp, ME is 0.85%, which is lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Big Lake Twp at $92,170, the typical annual property tax bill is $784, significantly below the national median of $2,690. Property taxes in Big Lake Twp are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Big Lake 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 Big Lake 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
Big Lake Twp, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$783
Ownwell’s Big Lake Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Lake Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Lake 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 Big Lake Twp, Maine
Property taxes in Big Lake Twp, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Lake Twp is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Big Lake Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Lake 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 Big Lake Twp's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04668 has both the highest and lowest median property tax rate of 0.85%. Understanding how these areas compare with Big Lake Twp provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Lake Twp Tax Rate
0.85%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Lake Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04668 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Big Lake Twp, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Big Lake Twp, Maine. The market value represents 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 Washington 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 Big Lake 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. The median home price in Big Lake Twp is $92,170, with the 25th percentile tax bill at $358 and the 75th percentile tax bill at $1,176. Notably, the highest and lowest median tax bills in the area are both $784, found in the zip code 04668. 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 Big Lake Twp Assessed Value
$92,170
Average Washington County Assessed Value
$97,800
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Lake Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04668 | $26,136 | $42,110 | $92,170 | $138,448 | $155,780 |
Source: Ownwell
Property Tax Bills Across Big Lake Twp, Maine
In Big Lake Township, Washington 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 the local tax assessor and reflects the market value of the property. Homeowners in Big Lake Township can expect a median property tax bill of $784, which is below the national median property tax rate of 0.99%. For a home with a median price of $92,170, this translates into a significant savings compared to other regions. Factors such as property improvements, neighborhood developments, and changes in market conditions can affect the assessed value, thereby influencing the tax bill. Homeowners in the 25th percentile pay around $358, while those in the 75th percentile face tax bills up to $1,176. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly, ensuring they are prepared for any changes in their property tax bills.
Average Big Lake Twp Tax Bill
$784
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Lake Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04668 | $222 | $358 | $784 | $1,176 | $1,324 |
Source: Ownwell