Buxton, Maine Property Taxes
The median property tax rate in Buxton, ME is 1.04%, slightly higher than the national median of 0.99% but lower than Maine's state median of 1.57%. With the median home value in Buxton at $352,400, the typical annual property tax bill reaches $3,676, surpassing the national median of $2,690. Property taxes in Buxton are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence exemption. Understanding Buxton'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 Buxton or another part of York County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buxton, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$3,665
Ownwell’s Buxton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buxton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buxton 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 Buxton, Maine
Property taxes in Buxton, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buxton is 1.04%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Buxton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buxton 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 Buxton's effective property tax rate to other counties in Maine and the national median. For comparison, the 04093 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Buxton provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buxton Tax Rate
1.04%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buxton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04093 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Buxton, Maine
In Buxton, 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 York 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 Buxton, 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 Buxton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Buxton both stand at $3,676, specifically in the 04093 zip code.
Average Buxton Assessed Value
$352,400
Average York County Assessed Value
$307,400
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buxton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04093 | $184,580 | $272,200 | $352,400 | $451,950 | $556,200 |
Source: Ownwell
Property Tax Bills Across Buxton, Maine
In Buxton, located in York County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Buxton is $352,400. To determine the tax bill, the assessed value is multiplied by the local tax rate. Homeowners in Buxton can expect their tax bills to vary significantly. For instance, those at the 25th percentile pay around $2,839, while those at the 75th percentile face bills of approximately $4,714. The highest property tax bills in the area can reach up to $5,801 at the 90th percentile. Compared to the national median property tax rate of 0.99%, Buxton's property tax rates can be relatively high, affecting homeowners' annual financial planning. Factors such as property improvements, neighborhood developments, and changes in local government budgets can influence the assessed value and, consequently, the tax bill. Understanding these elements is crucial for homeowners to anticipate their property tax obligations accurately.
Average Buxton Tax Bill
$3,676
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Buxton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04093 | $1,925 | $2,839 | $3,676 | $4,714 | $5,801 |
Source: Ownwell