New Gloucester, Maine Property Taxes
The median property tax rate in New Gloucester, ME is 1.43%, higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in New Gloucester, the typical annual property tax bill reaches $3,371, exceeding the national median of $2,690. Property taxes in New Gloucester 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 New Gloucester'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 New Gloucester 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
New Gloucester, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$3,371
Ownwell’s New Gloucester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Gloucester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Gloucester 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 New Gloucester, Maine
Property taxes in New Gloucester, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Gloucester is 1.43%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within New Gloucester set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Gloucester 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 New Gloucester's effective property tax rate to other counties in Maine and the national median. For comparison, the 04260 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with New Gloucester 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 New Gloucester Tax Rate
1.43%
Average Cumberland County Tax Rate
1.52%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Gloucester, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04260 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across New Gloucester, Maine
In New Gloucester, 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 New Gloucester, 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 New Gloucester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $235,748, with tax bills ranging from $2,600 at the 25th percentile to $5,387 at the 90th percentile. The zip code 04260 has the highest and lowest median tax bill at $3,371.
Average New Gloucester Assessed Value
$235,748
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 New Gloucester, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04260 | $108,420 | $181,447 | $235,748 | $295,684 | $376,934 |
Source: Ownwell
Property Tax Bills Across New Gloucester, Maine
In New Gloucester, located in Cumberland County, ME, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value, which is determined by the town's assessor. For instance, with a median home price of $235,748, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill stands at $2,600, while the 75th percentile reaches $4,228, and the 90th percentile goes up to $5,387. Factors influencing the tax bill include property size, location, and improvements. The assessed value is a key determinant, and any changes to the property can affect it. Homeowners in New Gloucester face a median tax bill of $3,371, which is notably higher than the national median property tax rate of 0.99%. This higher tax rate impacts homeowners by increasing their annual financial obligations, making it crucial for them to understand how their property is assessed and to stay informed about any potential exemptions or appeals they might qualify for.
Average New Gloucester Tax Bill
$3,371
Average Cumberland County Tax Bill
$4,856
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across New Gloucester, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04260 | $1,573 | $2,600 | $3,371 | $4,228 | $5,387 |
Source: Ownwell