Hodgdon, Maine Property Taxes
The median property tax rate in Hodgdon, ME is 2.25%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Hodgdon at $76,800, the typical annual property tax bill reaches $1,722, exceeding the national median of $2,690. Property taxes in Hodgdon 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 Hodgdon'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 Hodgdon 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
Hodgdon, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$1,728
Ownwell’s Hodgdon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hodgdon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hodgdon 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 Hodgdon, Maine
Property taxes in Hodgdon, Maine, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hodgdon is 1.30%, higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Hodgdon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hodgdon 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 Hodgdon's effective property tax rate to other counties in Maine and the national median. For comparison, the 04730 zip code has the highest median property tax rate of 1.30%, while the same 04730 zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Hodgdon 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 Hodgdon Tax Rate
2.25%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hodgdon, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04730 | 2.25% | 2.25% | 2.25% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Hodgdon, Maine
In Hodgdon, 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 Hodgdon, 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 Hodgdon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hodgdon are both $1,722, found in the 04730 zip code.
Average Hodgdon Assessed Value
$76,800
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 Hodgdon, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04730 | $35,400 | $51,675 | $76,800 | $105,575 | $137,850 |
Source: Ownwell
Property Tax Bills Across Hodgdon, Maine
In Hodgdon, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in Hodgdon is $76,800. Property taxes are then applied to this assessed value using the local tax rate. For homeowners in Hodgdon, the tax bill can vary significantly. The 25th percentile tax bill is $1,161, while the 75th percentile reaches $2,370, and the 90th percentile can be as high as $3,102. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. The highest and lowest median tax bill in Hodgdon is $1,722, which is significantly higher than the national median property tax rate of 0.99%. This variation in tax bills can have a substantial impact on homeowners, affecting their annual budget and long-term financial planning. Understanding how these factors interplay is crucial for homeowners looking to manage their property tax expenses effectively.
Average Hodgdon Tax Bill
$1,722
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Hodgdon, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04730 | $794 | $1,161 | $1,722 | $2,370 | $3,102 |
Source: Ownwell