Moro Plt, Maine Property Taxes
The median property tax rate in Moro Plt, ME is 1.55%, slightly lower than the Maine state median of 1.57% but significantly higher than the national median of 0.99%. With a median home value of $73,850, the typical annual property tax bill in Moro Plt reaches $1,144, which is below the national median of $2,690. Property taxes in Moro Plt are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. By understanding the property tax system in Moro Plt, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Moro Plt or another part of Aroostook County, grasping the local property tax nuances can provide significant financial benefits.
Last Updated June 14, 2024
Moro Plt, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$1,145
Ownwell’s Moro Plt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moro Plt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moro 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 Moro Plt, Maine
Property taxes in Moro 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 Moro Plt is 1.55%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Moro Plt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moro 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 Moro Plt's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04780 has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these areas compare with Moro 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 Moro Plt Tax Rate
1.55%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moro Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04780 | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Moro Plt, Maine
In Moro 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. In Moro 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 Moro Plt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bills in the area are both $1,144, found in zip code 04780.
Average Moro Plt Assessed Value
$73,850
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 Moro Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04780 | $30,920 | $50,125 | $73,850 | $124,775 | $198,810 |
Source: Ownwell
Property Tax Bills Across Moro Plt, Maine
In Moro Plantation, located in Aroostook County, Maine, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the town's assessor and is intended to reflect the market value of the property. The tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $73,850, homeowners in Moro Plantation can expect their tax bill to vary. At the 25th percentile, the tax bill is around $777, while at the 75th percentile, it rises to $1,934. The highest tax bills, reaching the 90th percentile, can be as much as $3,082. Comparatively, the national median property tax rate is 0.99%, making Moro Plantation's rates significant for homeowners. These taxes fund essential local services such as schools, road maintenance, and public safety, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their financial responsibilities and the benefits they receive in return.
Average Moro Plt Tax Bill
$1,144
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Moro Plt, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04780 | $479 | $777 | $1,144 | $1,934 | $3,082 |
Source: Ownwell