Perkins Twp, Maine Property Taxes
The median property tax rate in Perkins Twp, ME is 0.83%, lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Perkins Twp, the typical annual property tax bill reaches $1,044, significantly below the national median of $2,690. Property taxes in Perkins Twp 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 Perkins Twp'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 Perkins Twp 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
Perkins Twp, 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 Perkins Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perkins Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perkins Twp 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 Perkins Twp, Maine
Property taxes in Perkins Township, Maine, are fundamental in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perkins Township is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Perkins Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perkins Township 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. For comparison, the zip code 04294 has both the highest and lowest median property tax rate of 0.83%. Understanding how these areas compare with Perkins Township 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 Perkins Twp Tax Rate
0.83%
Average Franklin County Tax Rate
1.80%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Perkins Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04294 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Perkins Twp, Maine
In Perkins Twp, 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 local 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 Perkins Twp, 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 Perkins Twp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Perkins Twp is $126,370, with the 25th percentile tax bill at $936 and the 75th percentile at $1,692. The highest and lowest median tax bills are both $1,044, found in the 04294 zip code.
Average Perkins Twp Assessed Value
$126,370
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 Perkins Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04294 | $75,984 | $113,280 | $126,370 | $204,800 | $231,956 |
Source: Ownwell
Property Tax Bills Across Perkins Twp, Maine
In Perkins Township, Franklin County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $126,370. Factors considered in determining the tax bill include the property's assessed value, which is periodically updated, and the local tax rate, which is influenced by budgetary needs for public services like schools, infrastructure, and emergency services. For homeowners, this means the property tax bill can vary significantly depending on the home's valuation and the local tax rate. The tax bill for homes in the 25th percentile is around $936, while those in the 75th percentile can expect to pay approximately $1,692. The 90th percentile sees tax bills nearing $1,916. Compared to the national median property tax rate of 0.99%, Perkins Township's rates reflect local economic conditions and funding requirements. Homeowners must budget accordingly, as these taxes directly impact their annual expenses and the affordability of maintaining their property.
Average Perkins Twp Tax Bill
$1,044
Average Franklin County Tax Bill
$1,981
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Perkins Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04294 | $631 | $936 | $1,044 | $1,692 | $1,916 |
Source: Ownwell