Benedicta, Maine Property Taxes
The median property tax rate in Benedicta, ME is 0.71%, which is significantly lower than both the national median of 0.99% and the Maine state median of 1.57%. With a median home value of $146,090 in Benedicta, the typical annual property tax bill amounts to $1,030, which is also below the national median of $2,690. Property taxes in Benedicta are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Benedicta'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 Benedicta or another part of Aroostook County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Benedicta, 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 Benedicta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Benedicta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Benedicta 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 Benedicta, Maine
Property taxes in Benedicta, Maine, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Benedicta is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Benedicta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Benedicta 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 Benedicta's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04733 has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Benedicta 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 Benedicta Tax Rate
0.71%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benedicta, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04733 | 0.70% | 0.70% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Benedicta, Maine
In Benedicta, 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 Benedicta, 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 Benedicta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $1,030, with the zip code 04733.
Average Benedicta Assessed Value
$146,090
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 Benedicta, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04733 | $93,560 | $116,830 | $146,090 | $196,045 | $247,300 |
Source: Ownwell
Property Tax Bills Across Benedicta, Maine
In Benedicta, located in Aroostook County, ME, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town's assessor and reflects the property's market value. Homeowners in Benedicta typically see a range of property tax bills, with the 25th percentile at $828 and the 75th percentile at $1382. For those at the 90th percentile, tax bills can go up to $1744. The local tax rate in Benedicta is influenced by various factors, including the town's budgetary needs, school funding, and public services. Compared to the national median property tax rate of 0.99%, Benedicta's rates can be seen as relatively moderate, particularly when considering the median home price of $146,090. This ensures that homeowners contribute to community services and infrastructure, but also means that higher-value properties will see higher tax bills. Understanding these factors can help homeowners anticipate their annual tax obligations and plan accordingly.
Average Benedicta Tax Bill
$1,030
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Benedicta, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04733 | $659 | $828 | $1,030 | $1,382 | $1,744 |
Source: Ownwell