Bridgton, Maine Property Taxes
The median property tax rate in Bridgton, ME is 1.72%, significantly higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Bridgton at $154,062, the typical annual property tax bill reaches $2,652, slightly below the national median of $2,690. Property taxes in Bridgton are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bridgton'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 Bridgton 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
Bridgton, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.72%
Estimate Property Tax Bill
$2,650
Ownwell’s Bridgton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bridgton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bridgton 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 Bridgton, Maine
Property taxes in Bridgton, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgton is 1.72%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Bridgton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgton 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 Bridgton's effective property tax rate to other counties in Maine and the national median. For comparison, the 04009 zip code has both the highest and lowest median property tax rate of 1.72%. Understanding how these cities compare with Bridgton provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgton Tax Rate
1.72%
Average Cumberland County Tax Rate
1.52%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04009 | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Bridgton, Maine
In Bridgton, 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 Cumberland 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 Bridgton, 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. For instance, the highest median tax bill in Bridgton is $2,652 in the 04009 zip code. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bridgton Assessed Value
$154,062
Average Cumberland County Assessed Value
$319,900
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04009 | $79,632 | $111,154 | $154,062 | $206,110 | $307,609 |
Source: Ownwell
Property Tax Bills Across Bridgton, Maine
In Bridgton, located in Cumberland County, ME, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town's assessor and ideally reflects the market value of the home. Once the assessed value is established, it is multiplied by the local property tax rate to calculate the tax bill. For instance, the median home price in Bridgton is $154,062. Homeowners in this area can expect a tax bill that varies significantly. At the 25th percentile, tax bills are around $1,912, while at the 75th percentile, they rise to approximately $3,545. For those at the 90th percentile, tax bills can reach up to $5,291. This variability in tax bills affects homeowners differently, depending on the assessed value of their property and the specific tax rate applied. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners to understand these local factors to anticipate their annual property tax obligations.
Average Bridgton Tax Bill
$2,652
Average Cumberland County Tax Bill
$4,856
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04009 | $1,372 | $1,912 | $2,652 | $3,545 | $5,291 |
Source: Ownwell