Amity, Maine Property Taxes
The median property tax rate in Amity, ME is 1.88%, significantly higher than both the national median of 0.99% and the Maine state median of 1.57%. With a median home value of $56,000, the typical annual property tax bill in Amity reaches $1,052, exceeding the national median of $2,690. Property taxes in Amity 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 Amity'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 Amity 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
Amity, 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 Amity Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amity with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amity 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 Amity, Maine
Property taxes in Amity, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amity is 1.88%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Amity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amity 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. Understanding how these cities compare with Amity provides valuable insights into the varying tax landscape across Aroostook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amity Tax Rate
1.88%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amity, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04471 | 1.88% | 1.88% | 1.88% | 1.88% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Amity, Maine
In Amity, 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 Aroostook 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 Amity, 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 Amity helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,052 in the 04471 zip code, which also has the lowest median tax bill.
Average Amity Assessed Value
$56,000
Average Aroostook County Assessed Value
$86,999
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amity, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04471 | $23,080 | $34,425 | $56,000 | $79,725 | $99,680 |
Source: Ownwell
Property Tax Bills Across Amity, Maine
In Amity, located in Aroostook County, ME, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Amity is $56,000, which serves as a basis for determining the tax amount. The tax rate is applied to this assessed value to generate the property tax bill. Factors such as property size, location, and any improvements made can influence the assessed value, thereby affecting the tax bill. Homeowners in Amity experience varying property tax bills, with the 25th percentile at $647 and the 75th percentile at $1,491. Those in the 90th percentile can see bills as high as $1,867. These figures indicate a range of tax burdens depending on property valuations. Compared to the national median property tax rate of 0.99%, Amity's property taxes can be a significant consideration for homeowners. Understanding these factors is crucial for budgeting and financial planning, ensuring homeowners are prepared for their annual property tax obligations.
Average Amity Tax Bill
$1,052
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Amity, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04471 | $434 | $647 | $1,052 | $1,491 | $1,867 |
Source: Ownwell