Kennebunkport, Maine Property Taxes
The median property tax rate in Kennebunkport, ME is 0.63%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Kennebunkport at $782,000, the typical annual property tax bill reaches $4,965, which still exceeds the national median of $2,690. Property taxes in Kennebunkport 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 Kennebunkport'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 Kennebunkport 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
Kennebunkport, 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 Kennebunkport Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Kennebunkport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kennebunkport 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 York County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kennebunkport, Maine
Property taxes in Kennebunkport, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kennebunkport is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Kennebunkport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kennebunkport 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 Kennebunkport's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04046 has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Kennebunkport 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 Kennebunkport Tax Rate
0.63%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kennebunkport, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04046 | 0.62% | 0.62% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Kennebunkport, Maine
In Kennebunkport, 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 Kennebunkport, 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 Kennebunkport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kennebunkport is $782,000, with tax bills ranging from $3,352 at the 25th percentile to $12,751 at the 90th percentile. The zip code 04046 has both the highest and lowest median tax bill, recorded at $4,965.
Average Kennebunkport Assessed Value
$782,000
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 Kennebunkport, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04046 | $355,130 | $519,700 | $782,000 | $1,217,225 | $2,032,080 |
Source: Ownwell
Property Tax Bills Across Kennebunkport, Maine
In Kennebunkport, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the town's assessor, who evaluates the market value of your property. This value is then multiplied by the local tax rate to determine your annual tax bill. For example, if your home is assessed at $782,000, your tax bill would be calculated using Kennebunkport's specific tax rate. Several factors influence your property's assessed value, including the home's size, age, location, and condition. Changes in the real estate market can also impact assessments. Homeowners in Kennebunkport can expect tax bills to vary significantly. The 25th percentile tax bill is around $3,352, while the 75th percentile reaches $7,623. At the 90th percentile, tax bills can climb to $12,751. Understanding how property taxes are calculated helps homeowners budget effectively and anticipate changes in their annual expenses. Comparing these figures to the national median property tax rate of 0.99% provides perspective on local tax burdens.
Average Kennebunkport Tax Bill
$4,965
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Kennebunkport, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04046 | $2,413 | $3,352 | $4,965 | $7,623 | $12,751 |
Source: Ownwell