Codyville Plt, Maine Property Taxes
The median property tax rate in Codyville Plt, 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 Codyville Plt, the typical annual property tax bill is $955, significantly less than the national median of $2,690. Property taxes in Codyville Plt 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 Codyville Plt'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 Codyville Plt 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
Codyville Plt, 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 Codyville Plt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Codyville Plt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Codyville Plt 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 Codyville Plt, Maine
Property taxes in Codyville Plt, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Codyville Plt is 0.85%, which is lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Codyville Plt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Codyville Plt 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 Codyville Plt's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04490 has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these areas compare with Codyville Plt 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 Codyville Plt 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 Codyville Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04490 | 0.85% | 0.85% | 0.85% | 0.86% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Codyville Plt, Maine
In Codyville Plt, 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 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. 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 Codyville Plt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Codyville Plt is $955 in the 04490 zip code, reflecting the uniformity in tax assessments within the area.
Average Codyville Plt Assessed Value
$110,695
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 Codyville Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04490 | $50,888 | $88,535 | $110,695 | $122,960 | $142,796 |
Source: Ownwell
Property Tax Bills Across Codyville Plt, Maine
Property tax bills in Codyville Plt, located in Washington County, ME, are calculated based on the assessed value of a property and the applicable tax rate. The assessed value is determined by local assessors who evaluate the property’s market value. This value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $110,695, homeowners in Codyville Plt can expect varying tax bills. The 25th percentile tax bill stands at $768, while the 75th percentile tax bill is $1,051, indicating that most homeowners fall within this range. The 90th percentile tax bill reaches $1,216, showing that higher-end properties incur more taxes. Compared to the national median property tax rate of 0.99%, Codyville Plt's tax rates reflect the local economic conditions and property values. These taxes fund essential public services such as education, infrastructure, and emergency services, directly impacting the community and homeowners' overall cost of living.
Average Codyville Plt Tax Bill
$955
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Codyville Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04490 | $439 | $768 | $955 | $1,051 | $1,216 |
Source: Ownwell