North Berwick, Maine Property Taxes
The median property tax rate in North Berwick, ME is 1.12%, which is higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in North Berwick at $284,450, the typical annual property tax bill reaches $3,172, surpassing the national median of $2,690. Property taxes in North Berwick are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding North Berwick'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 North Berwick 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
North Berwick, 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 North Berwick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Berwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Berwick 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 North Berwick, Maine
Property taxes in North Berwick, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Berwick is 1.12%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within North Berwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Berwick 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 North Berwick's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 03906 has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these areas compare with North Berwick 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 North Berwick Tax Rate
1.12%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Berwick, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03906 | 1.11% | 1.11% | 1.12% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across North Berwick, Maine
In North Berwick, 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 local appraisal authorities 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 North Berwick, 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 North Berwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in North Berwick is $284,450, with tax bills varying significantly. For instance, the 25th percentile tax bill is $2,556, while the 75th percentile tax bill is $4,008. Interestingly, the highest and lowest median tax bills both amount to $3,172 in zip code 03906. Understanding these figures can provide valuable insights for homeowners aiming to optimize their property tax obligations.
Average North Berwick Assessed Value
$284,450
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 North Berwick, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03906 | $187,280 | $229,225 | $284,450 | $358,450 | $435,600 |
Source: Ownwell
Property Tax Bills Across North Berwick, Maine
In North Berwick, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $284,450, homeowners in North Berwick can expect varying tax bills. At the 25th percentile, the tax bill is around $2,556, while at the 75th percentile, it rises to $4,008. For those at the 90th percentile, it can go up to $4,875. Several factors influence the tax bill, including property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, North Berwick's rates can significantly impact homeowners' finances. Understanding these factors and how they affect the tax bill is crucial for homeowners looking to manage their property expenses effectively.
Average North Berwick Tax Bill
$3,172
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across North Berwick, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03906 | $2,088 | $2,556 | $3,172 | $4,008 | $4,875 |
Source: Ownwell