Day Block Twp, Maine Property Taxes
The median property tax rate in DAY BLOCK 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 DAY BLOCK TWP at $118,880, the typical annual property tax bill amounts to $1,010, significantly less than the national median of $2,690. Property taxes in DAY BLOCK TWP are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding DAY BLOCK TWP's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of DAY BLOCK TWP or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Day Block Twp, 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 DAY BLOCK TWP Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DAY BLOCK TWP with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DAY BLOCK 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 Day Block Twp, Maine
Property taxes in DAY BLOCK TWP, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in DAY BLOCK TWP 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 DAY BLOCK TWP set these rates annually, and they can vary significantly across different neighborhoods. Each year, DAY BLOCK 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 DAY BLOCK TWP's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04654 has both the highest and lowest median property tax rate of 0.85%. Understanding how these areas compare with DAY BLOCK 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 Day Block 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 Day Block Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04654 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Day Block Twp, Maine
In DAY BLOCK TWP, 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. 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. In DAY BLOCK TWP, the median home price is $118,880. The 25th percentile tax bill is $674, while the 75th percentile tax bill is $1,248. Notably, the highest and lowest median tax bills are both $1,010, found in the 04654 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Day Block Twp Assessed Value
$118,880
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 Day Block Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04654 | $57,369 | $79,252 | $118,880 | $146,768 | $147,519 |
Source: Ownwell
Property Tax Bills Across Day Block Twp, Maine
In DAY BLOCK TWP, located in Washington County, ME, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $118,880. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, with tax bills ranging from $674 at the 25th percentile to $1,248 at the 75th percentile, homeowners can expect their tax bills to vary significantly depending on the value of their property. Several factors influence the tax bill, including the assessed value of the property and any applicable exemptions. The highest median tax bill in the area is $1,010, which is relatively lower than the national median property tax rate of 0.99%. This means homeowners in DAY BLOCK TWP might find their property taxes more manageable compared to other regions. Understanding these factors can help homeowners budget more effectively and potentially identify opportunities for appealing their assessed value to reduce their tax burden.
Average Day Block Twp Tax Bill
$1,010
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Day Block Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04654 | $488 | $674 | $1,010 | $1,248 | $1,254 |
Source: Ownwell