Temple, Maine Property Taxes
The median property tax rate in Temple, ME is 2.21%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Temple at $103,905, the typical annual property tax bill reaches $2,296, just below the national median of $2,690. Property taxes in Temple 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 Temple'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 Temple 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
Temple, 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 Temple Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Temple with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Temple to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Temple, Maine
Property taxes in Temple, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Temple is 2.21%, significantly higher than the U.S. national median of 0.99%. Local government entities within Temple set these rates annually, and they can vary significantly across different neighborhoods. Each year, Temple 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 Temple's effective property tax rate to other areas in Maine and the national median. For comparison, the 04984 zip code has the highest median property tax rate of 2.21%, while the same zip code also has the lowest median tax rate of 2.21%. Understanding how these cities compare with Temple 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 Temple Tax Rate
2.21%
Average Franklin County Tax Rate
1.80%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Temple, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04984 | 2.21% | 2.21% | 2.21% | 2.21% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Temple, Maine
In Temple, 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 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 Temple, 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 Temple helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 04984, with a bill of $2,296. The same zip code also records the lowest median tax bill at $2,296, highlighting the uniformity in property tax assessments within the area.
Average Temple Assessed Value
$103,905
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 Temple, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04984 | $47,250 | $78,562 | $103,905 | $144,365 | $181,020 |
Source: Ownwell
Property Tax Bills Across Temple, Maine
In Temple, located in Franklin County, ME, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors and reflects the market value of the property. Homeowners in Temple face varying tax bills, influenced by the assessed value of their properties and the local tax rate. For instance, the median home price in Temple is $103,905, which serves as a baseline for determining property taxes. The tax bill can vary significantly, with the 25th percentile at $1,730 and the 75th percentile reaching $3,190. At the higher end, the 90th percentile tax bill can go up to $4,001. These figures indicate a range of property tax burdens, depending on property value and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Temple's property tax rates can be higher, impacting homeowners' annual expenses. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Temple Tax Bill
$2,296
Average Franklin County Tax Bill
$1,981
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Temple, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04984 | $1,044 | $1,730 | $2,296 | $3,190 | $4,001 |
Source: Ownwell