Macwahoc Plt, Maine Property Taxes
The median property tax rate in Macwahoc Plt, ME is 0.70%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Macwahoc Plt at $201,880, the typical annual property tax bill reaches $1,423, well below the national median of $2,690. Property taxes in Macwahoc Plt 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 Macwahoc Plt'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 Macwahoc 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
Macwahoc Plt, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,413
Ownwell’s Macwahoc Plt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Macwahoc Plt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Macwahoc 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 Macwahoc Plt, Maine
Property taxes in Macwahoc Plt, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Macwahoc Plt is 0.70%, which is lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Macwahoc Plt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Macwahoc 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 Macwahoc Plt's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04451 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Macwahoc 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 Macwahoc 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 Macwahoc Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04451 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Macwahoc Plt, Maine
In Macwahoc 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 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. 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 Macwahoc Plt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 04451, with a median tax bill of $1,423.
Average Macwahoc Plt Assessed Value
$201,880
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 Macwahoc Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04451 | $201,880 | $201,880 | $201,880 | $201,880 | $201,880 |
Source: Ownwell
Property Tax Bills Across Macwahoc Plt, Maine
In Macwahoc Plantation, located in Aroostook County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $201,880. Homeowners can expect a consistent tax bill, as the 25th, 75th, and 90th percentiles all show a tax bill of $1,423. This means that regardless of the home's value within these percentiles, the tax bill remains the same, reflecting a uniform tax rate within the region. The property tax rate in Macwahoc Plantation is derived from the assessed value of properties and the local government's budgetary needs. This rate is applied to the assessed value to determine the annual tax bill. For homeowners, this means that even minor changes in assessed property values or tax rates can impact their annual expenses. Compared to the national median property tax rate of 0.99%, the tax rate in Macwahoc Plantation offers a predictable and stable financial expectation for residents.
Average Macwahoc Plt Tax Bill
$1,423
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Macwahoc Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04451 | $1,423 | $1,423 | $1,423 | $1,423 | $1,423 |
Source: Ownwell