Sebago, Maine Property Taxes
The median property tax rate in Sebago, ME is 1.30%, which is considerably higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Sebago at $202,857, the typical annual property tax bill reaches $2,633, just below the national median of $2,690. Property taxes in Sebago are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sebago'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 Sebago 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
Sebago, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Sebago Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sebago with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sebago 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 Sebago, Maine
Property taxes in Sebago, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sebago is 1.30%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Sebago set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sebago 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 Sebago's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04029 has the highest median property tax rate of 1.30%, while the same zip code 04029 has the lowest median tax rate of 1.30%. Understanding how these areas compare with Sebago 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 Sebago Tax Rate
1.30%
Average Cumberland County Tax Rate
1.52%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sebago, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04029 | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Sebago, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sebago, Maine. 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 Sebago, 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 Sebago helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Sebago’s median home price is $202,857, with the highest and lowest median tax bills both recorded at $2,633 in the 04029 zip code.
Average Sebago Assessed Value
$202,857
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 Sebago, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04029 | $88,227 | $152,954 | $202,857 | $277,094 | $538,421 |
Source: Ownwell
Property Tax Bills Across Sebago, Maine
In Sebago, Cumberland County, ME, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is an estimation of the property's market value, which local assessors calculate based on various factors such as property size, location, and condition. Homeowners in Sebago face property taxes that can vary significantly. For instance, the 25th percentile tax bill is $1,983, while the 75th percentile tax bill reaches $3,597. At the higher end, the 90th percentile tax bill can be as much as $6,989. Sebago's property tax rate is influenced by the need to fund local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Sebago's tax rates result in substantial annual tax bills for homeowners. The highest median tax bill in the area is $2,633, which is consistent across all zip codes, reflecting the uniformity in property tax assessments within the region. Homeowners must budget accordingly to manage these expenses.
Average Sebago Tax Bill
$2,633
Average Cumberland County Tax Bill
$4,856
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Sebago, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04029 | $1,145 | $1,983 | $2,633 | $3,597 | $6,989 |
Source: Ownwell