Northfield, Maine Property Taxes
The median property tax rate in Northfield, ME is 0.84%, which is notably lower than both the national median of 0.99% and the Maine state median of 1.57%. With a median home value in Northfield of $133,500, the typical annual property tax bill is $1,121, significantly less than the national median of $2,690. Property taxes in Northfield are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Northfield'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 Northfield or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Northfield, 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 Northfield Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Northfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Northfield 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 Northfield, Maine
Property taxes in Northfield, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Northfield is 0.84%, which is lower than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Northfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Northfield 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 Northfield's effective property tax rate to other areas in Maine and the national median. For comparison, the 04654 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Northfield 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 Northfield Tax Rate
0.84%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Northfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04654 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Northfield, Maine
In Northfield, 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. In Northfield, 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 Northfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 04654, where homeowners pay around $1,121 annually.
Average Northfield Assessed Value
$133,500
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 Northfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04654 | $57,040 | $86,350 | $133,500 | $169,350 | $226,100 |
Source: Ownwell
Property Tax Bills Across Northfield, Maine
In Northfield, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value determined by the local assessor's office. This assessed value is then multiplied by the tax rate to determine the annual property tax bill. Various factors, such as property size, location, and improvements, can influence the assessed value. For homeowners in Northfield, the median home price is $133,500. Property tax bills can vary significantly, with the 25th percentile at $726 and the 75th percentile at $1422. At the 90th percentile, homeowners might see bills as high as $1900. Comparatively, the highest and lowest median tax bills in the county, both at $1121, provide a benchmark for understanding local variations. Understanding these calculations is crucial for homeowners as property taxes directly impact annual housing costs. By staying informed about assessed values and local tax rates, homeowners can better anticipate their financial obligations.
Average Northfield Tax Bill
$1,121
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Northfield, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04654 | $479 | $726 | $1,121 | $1,422 | $1,900 |
Source: Ownwell