Danforth, Maine Property Taxes
The median property tax rate in Danforth, ME is 2.57%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Danforth, the typical annual property tax bill reaches $1,049, exceeding the national median of $2,690. Property taxes in Danforth 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 Danforth'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 Danforth 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
Danforth, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.57%
Estimate Property Tax Bill
$1,047
Ownwell’s Danforth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Danforth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Danforth 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 Danforth, Maine
Property taxes in Danforth, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danforth is 1.09%, slightly higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Danforth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danforth 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 Danforth's effective property tax rate to other counties in Maine and the national median. For comparison, the 04424 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 Danforth 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 Danforth Tax Rate
2.57%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danforth, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04424 | 2.57% | 2.57% | 2.57% | 2.58% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across Danforth, Maine
In Danforth, 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 local 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 Danforth, 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 Danforth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Danforth are both $1,049, found in the 04424 zip code. The median home price in the area is $40,740, with tax bills ranging from $680 at the 25th percentile to $2,752 at the 90th percentile.
Average Danforth Assessed Value
$40,740
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 Danforth, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04424 | $19,460 | $26,455 | $40,740 | $66,910 | $106,886 |
Source: Ownwell
Property Tax Bills Across Danforth, Maine
In Danforth, 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 assessor's office and reflects the market value of the property. Homeowners in Danforth can expect their property tax bills to vary significantly depending on the value of their homes. For example, the 25th percentile tax bill is around $680, while the 75th percentile tax bill reaches approximately $1711. The 90th percentile tax bill can go as high as $2752, highlighting the range of property values in the area. The local tax rate in Danforth plays a crucial role in determining the final tax bill. This rate is applied to the assessed value to calculate the amount owed. Compared to the national median property tax rate of 0.99%, the tax rate in Danforth may result in different financial impacts on homeowners. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Danforth Tax Bill
$1,049
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Danforth, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04424 | $501 | $680 | $1,049 | $1,711 | $2,752 |
Source: Ownwell