Sedgwick, Maine Property Taxes
The median property tax rate in Sedgwick, Maine is 1.35%, which is higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Sedgwick at $187,300, the typical annual property tax bill reaches $2,519, slightly below the national median of $2,690. Property taxes in Sedgwick are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Sedgwick'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 Sedgwick 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
Sedgwick, 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 Sedgwick Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sedgwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sedgwick to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in seeing trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Sedgwick, Maine
Property taxes in Sedgwick, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sedgwick is 1.35%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Sedgwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sedgwick 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 Sedgwick's effective property tax rate to other counties in Maine and the national median. For comparison, the 04676 zip code has the highest median property tax rate of 1.35%, while the 04676 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Sedgwick 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 Sedgwick Tax Rate
1.35%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sedgwick, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04676 | 1.34% | 1.34% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Sedgwick, Maine
In Sedgwick, 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. The median home price in Sedgwick is $187,300, with tax bills ranging from $1,735 at the 25th percentile to $5,476 at the 90th percentile. The zip code 04676 has both the highest and lowest median tax bill, which is $2,519. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sedgwick Assessed Value
$187,300
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 Sedgwick, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04676 | $66,760 | $129,000 | $187,300 | $279,400 | $407,120 |
Source: Ownwell
Property Tax Bills Across Sedgwick, Maine
In Sedgwick, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions play a significant role in the assessment process. Homeowners in Sedgwick see a range of property tax bills, with the 25th percentile paying around $1,735 annually and those in the 75th percentile paying approximately $3,758. The highest median tax bill in the area is $2,519, found in the 04676 zip code. Compared to the national median property tax rate of 0.99%, Sedgwick's tax rates can significantly impact homeowners, affecting their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations and manage their finances effectively.
Average Sedgwick Tax Bill
$2,519
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Sedgwick, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04676 | $898 | $1,735 | $2,519 | $3,758 | $5,476 |
Source: Ownwell