Gouldsboro, Maine Property Taxes
The median property tax rate in Gouldsboro, ME is 1.23%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Gouldsboro, the typical annual property tax bill reaches $2,184, which is below the national median of $2,690. Property taxes in Gouldsboro 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 Gouldsboro'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 Gouldsboro 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
Gouldsboro, 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 Gouldsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gouldsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gouldsboro 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 Gouldsboro, Maine
Property taxes in Gouldsboro, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gouldsboro is 1.23%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Gouldsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gouldsboro 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 Gouldsboro's effective property tax rate to other counties in Maine and the national median. For comparison, the 04607 zip code has the highest median property tax rate of 1.23%, while the 04607 zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Gouldsboro 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 Gouldsboro Tax Rate
1.23%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gouldsboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04607 | 1.22% | 1.22% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Gouldsboro, Maine
In Gouldsboro, 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. 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 Gouldsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 04607 has both the highest and lowest median tax bills, each at $2,184, reflecting the area's diverse property values.
Average Gouldsboro Assessed Value
$179,000
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 Gouldsboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04607 | $79,140 | $117,500 | $179,000 | $281,100 | $457,180 |
Source: Ownwell
Property Tax Bills Across Gouldsboro, Maine
In Gouldsboro, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is calculated based on various factors including the property's market value, its condition, and any improvements made. This value is then adjusted by the local tax rate set by Hancock County. For example, with a median home price of $179,000, the property tax bill can vary significantly. At the 25th percentile, homeowners might expect to pay around $1,439, while those at the 75th percentile could see bills as high as $3,443. The 90th percentile tax bill can reach up to $5,600. These figures highlight the variability in property tax bills, which can be influenced by the specific characteristics and location of the property within Gouldsboro. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how their local rates and property assessments impact their annual tax obligations.
Average Gouldsboro Tax Bill
$2,184
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Gouldsboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04607 | $959 | $1,439 | $2,184 | $3,443 | $5,600 |
Source: Ownwell