Cary Plt, Maine Property Taxes
The median property tax rate in CARY PLT, ME is 0.70%, significantly lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in CARY PLT, the typical annual property tax bill amounts to $767, well below the national median of $2,690. Property taxes in CARY PLT are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding CARY PLT's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of CARY PLT 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
Cary Plt, 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 CARY PLT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CARY PLT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CARY PLT 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 Cary Plt, Maine
Property taxes in Cary Plt, Maine, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cary Plt is 0.70%, lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Cary Plt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cary Plt 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 Cary Plt's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04471 in Aroostook County has the same median property tax rate of 0.70%. Understanding how these rates compare with Cary Plt 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 Cary Plt Tax Rate
0.70%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cary Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04471 | 0.70% | 0.70% | 0.70% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Cary Plt, Maine
In CARY PLT, 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 local 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 CARY PLT, 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 CARY PLT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 04471 has the highest and lowest median tax bill, both at $767.
Average Cary Plt Assessed Value
$108,150
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 Cary Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04471 | $46,522 | $77,742 | $108,150 | $146,742 | $194,549 |
Source: Ownwell
Property Tax Bills Across Cary Plt, Maine
In Cary PLT, located in Aroostook County, ME, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and is meant to reflect the market value of the property. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $108,150, homeowners can expect their property tax bill to vary significantly depending on the assessed value and specific circumstances of their property. Factors such as property size, location, and any improvements made can influence the assessed value. In Cary PLT, the tax bill ranges widely, with the 25th percentile at $544 and the 75th percentile at $1040, indicating a broad spectrum of property values and corresponding tax obligations. The highest median tax bill in the area is $767, which is below the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners, influencing their financial planning and overall cost of homeownership.
Average Cary Plt Tax Bill
$767
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Cary Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04471 | $328 | $544 | $767 | $1,040 | $1,412 |
Source: Ownwell