Eustis, Maine Property Taxes
The median property tax rate in Eustis, ME is 0.95%, slightly below the national median of 0.99% and significantly lower than the Maine state median of 1.57%. With the median home value in Eustis at $179,750, the typical annual property tax bill amounts to $1,712, which is under the national median of $2,690. Property taxes in Eustis are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eustis'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 Eustis or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eustis, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,708
Ownwell’s Eustis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eustis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eustis 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 Eustis, Maine
Property taxes in Eustis, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eustis is 0.95%, closely aligning with the Maine state median and slightly below the U.S. national median of 0.99%. Local government entities within Eustis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eustis 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 Eustis's effective property tax rate to other counties in Maine and the national median. For comparison, the 04936 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Eustis provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eustis Tax Rate
0.95%
Average Franklin County Tax Rate
1.80%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eustis, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04936 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Eustis, Maine
In Eustis, 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 Franklin 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 Eustis, 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 Eustis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 04936, with a median tax bill of $1,712.
Average Eustis Assessed Value
$179,750
Average Franklin County Assessed Value
$119,100
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eustis, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04936 | $103,100 | $132,025 | $179,750 | $247,225 | $334,510 |
Source: Ownwell
Property Tax Bills Across Eustis, Maine
In Eustis, 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 local assessor's office and is meant to reflect the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. In Eustis, homeowners can expect varying tax bills depending on these factors. For instance, the tax bill at the 25th percentile is $1,254, while at the 75th percentile, it rises to $2,312. At the 90th percentile, it can reach up to $3,207. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services. Homeowners in Eustis should be aware of these factors, as property taxes can significantly impact their annual expenses, especially when compared to the national median property tax rate of 0.99%.
Average Eustis Tax Bill
$1,712
Average Franklin County Tax Bill
$1,981
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Eustis, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04936 | $980 | $1,254 | $1,712 | $2,312 | $3,207 |
Source: Ownwell