Aurora, Maine Property Taxes
The median property tax rate in Aurora, ME is 2.17%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Aurora at $67,000, the typical annual property tax bill reaches $1,173, exceeding the national median of $2,690. Property taxes in Aurora 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 Aurora'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 Aurora or another part of Hancock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aurora, 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 Aurora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aurora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aurora 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 Aurora, Maine
Property taxes in Aurora, Maine, play a critical role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aurora is 2.17%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Aurora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aurora 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 Aurora's effective property tax rate to other counties in Maine and the national median. For comparison, the 04408 zip code has the highest median property tax rate of 2.17%, while the 04408 zip code also has the lowest median tax rate of 2.17%. Understanding how these cities compare with Aurora provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aurora Tax Rate
2.17%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aurora, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04408 | 0.52% | 2.17% | 2.17% | 2.17% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Aurora, Maine
In Aurora, 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 Hancock 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 Aurora, 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 Aurora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Aurora's highest median tax bill is $1173 in the 04408 zip code, while the lowest median tax bill is also $1173 in the same zip code.
Average Aurora Assessed Value
$67,000
Average Hancock County Assessed Value
$205,850
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aurora, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04408 | $26,500 | $41,500 | $67,000 | $99,200 | $159,420 |
Source: Ownwell
Property Tax Bills Across Aurora, Maine
In Aurora, Hancock County, ME, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value reflects the market value of the property, and the tax rate is applied to this value to calculate the annual tax bill. Various factors influence the assessed value, including the home's size, location, and condition. For homeowners in Aurora, the median home price stands at $67,000. Property tax bills can vary significantly, with the 25th percentile at $779, the 75th percentile at $1785, and the 90th percentile reaching $2667. These figures show a range of tax burdens depending on the property’s assessed value and other individual factors. Comparatively, the national median property tax rate is 0.99%, providing a benchmark for understanding local tax rates. The highest and lowest median tax bills in the area are both $1173, indicating a level of consistency in tax assessments within the specified zip code 04408. This system ensures that homeowners contribute fairly to local services and infrastructure based on their property's value.
Average Aurora Tax Bill
$1,173
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Aurora, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04408 | $426 | $779 | $1,173 | $1,785 | $2,667 |
Source: Ownwell