Manchester, Maine Property Taxes
The median property tax rate in Manchester, ME is 1.58%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Manchester, the typical annual property tax bill reaches $2,918, exceeding the national median of $2,690. Property taxes in Manchester 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 Manchester'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 Manchester 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
Manchester, 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 Manchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manchester 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 Manchester, Maine
Property taxes in Manchester, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manchester is 1.58%, significantly higher than the U.S. national median of 0.99%. Local government entities within Manchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manchester 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 Manchester's effective property tax rate to other counties in Maine and the national median. For comparison, the 04351 zip code has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Manchester provides valuable insights into the varying tax landscape across Kennebec, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manchester Tax Rate
1.58%
Average Kennebec County Tax Rate
1.72%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manchester, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04351 | 1.57% | 1.57% | 1.57% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Manchester, Maine
In Manchester, 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 Kennebec 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 Manchester, 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 Manchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Manchester both stand at $2918, specifically in the 04351 zip code.
Average Manchester Assessed Value
$185,250
Average Kennebec County Assessed Value
$154,165
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manchester, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04351 | $89,800 | $144,600 | $185,250 | $255,625 | $369,950 |
Source: Ownwell
Property Tax Bills Across Manchester, Maine
In Manchester, Kennebec County, ME, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local assessor's office and reflects the property's market value. Homeowners then multiply this assessed value by the local tax rate to determine their annual property tax bill. For instance, with a median home price of $185,250, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $2,277, while those at the 75th percentile could see bills as high as $4,026. The 90th percentile tax bill can reach up to $5,826. This variation highlights how property values and tax rates directly impact the financial responsibilities of homeowners. Compared to the national median property tax rate of 0.99%, Manchester residents face a relatively high property tax burden, emphasizing the importance of understanding these calculations for effective financial planning.
Average Manchester Tax Bill
$2,918
Average Kennebec County Tax Bill
$2,685
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Manchester, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04351 | $1,414 | $2,277 | $2,918 | $4,026 | $5,826 |
Source: Ownwell