Weston, Maine Property Taxes
The median property tax rate in Weston, ME is 1.75%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Weston at $91,500, the typical annual property tax bill reaches $1,601, which is below the national median of $2,690. Property taxes in Weston 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 Weston’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 Weston 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
Weston, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$1,601
Ownwell’s Weston Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Weston with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Weston to provide an estimated property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available further down the page. Your property’s assessed value is the value determined by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Weston, Maine
Property taxes in Weston, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weston is 1.75%, significantly higher than the U.S. national median of 0.99%. Local government entities within Weston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weston 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 Weston's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04424 has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these cities compare with Weston 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 Weston Tax Rate
1.75%
Average Aroostook County Tax Rate
2.26%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weston, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04424 | 1.75% | 1.75% | 1.75% | 1.75% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Weston, Maine
In Weston, 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 Weston, 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 Weston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Aroostook County, the zip code with both the highest and lowest median tax bill is 04424, with a median tax bill of $1,601.
Average Weston Assessed Value
$91,500
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 Weston, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04424 | $39,900 | $62,000 | $91,500 | $131,700 | $208,000 |
Source: Ownwell
Property Tax Bills Across Weston, Maine
In Weston, Aroostook County, ME, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the local assessor and represents a percentage of the property's market value. For instance, with a median home price of $91,500, the assessed value forms the basis for the tax calculation. The local tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Weston can expect varying tax bills depending on their property's assessed value. For example, tax bills in the 25th percentile are around $1,085, while those in the 75th percentile can reach up to $2,305. At the 90th percentile, tax bills can be as high as $3,640. This variation significantly impacts homeowners, as those with higher assessed values or fewer exemptions will face larger tax bills, affecting their annual financial planning and housing affordability.
Average Weston Tax Bill
$1,601
Average Aroostook County Tax Bill
$1,771
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Weston, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04424 | $698 | $1,085 | $1,601 | $2,305 | $3,640 |
Source: Ownwell