Steuben, Maine Property Taxes
The median property tax rate in Steuben, ME is 1.53%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Steuben, the typical annual property tax bill reaches $1,957, which is below the national median of $2,690. Property taxes in Steuben are calculated based on the tax assessed value, typically lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Steuben'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 Steuben 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
Steuben, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$1,963
Ownwell’s Steuben Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Steuben with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Steuben 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 Steuben, Maine
Property taxes in Steuben, Maine, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Steuben is 1.53%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Steuben set these rates annually, and they can vary significantly across different neighborhoods. Each year, Steuben 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 Steuben's effective property tax rate to other counties in Maine and the national median. For comparison, the 04680 zip code has the highest median property tax rate of 1.53%, while the 04680 zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Steuben 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 Steuben Tax Rate
1.53%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Steuben, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04680 | 1.52% | 1.52% | 1.53% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Steuben, Maine
In Steuben, 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 Steuben, 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. Steuben's median home price is $128,300, with tax bills ranging from $1,135 at the 25th percentile to $5,168 at the 90th percentile. The highest and lowest median tax bill, both at $1,957, are found in zip code 04680. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Steuben Assessed Value
$128,300
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 Steuben, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04680 | $39,900 | $74,400 | $128,300 | $213,200 | $338,900 |
Source: Ownwell
Property Tax Bills Across Steuben, Maine
In Steuben, ME, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For instance, with a median home price of $128,300, homeowners can expect varying tax bills depending on their property's specific assessment and applicable exemptions. Tax bills in Steuben can range significantly. The 25th percentile tax bill is around $1,135, while the 75th percentile reaches $3,251, and the 90th percentile can be as high as $5,168. These figures highlight the variability in tax burdens, influenced by factors such as property location, improvements, and market conditions. Homeowners in Steuben face a median property tax rate higher than the national median of 0.99%, leading to higher tax obligations compared to other regions. Understanding these factors is crucial for homeowners to anticipate their annual property tax expenses and manage their finances accordingly.
Average Steuben Tax Bill
$1,957
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Steuben, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04680 | $608 | $1,135 | $1,957 | $3,251 | $5,168 |
Source: Ownwell