Camden, Maine Property Taxes
The median property tax rate in Camden, ME is 1.32%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Camden at $402,600, the typical annual property tax bill reaches $5,317, exceeding the national median of $2,690. Property taxes in Camden 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 Camden'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 Camden 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
Camden, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$5,314
Ownwell’s Camden Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Camden with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Camden to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down for localized information. Your property’s assessed value is the value assigned by Knox County for property tax calculations, which takes into account any applicable exemptions.
Property Tax Rates Across Camden, Maine
Property taxes in Camden, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Camden is 1.32%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Camden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Camden 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 Camden's effective property tax rate to other counties in Maine and the national median. For comparison, the 04843 zip code has the highest median property tax rate of 1.32%, while the 04843 zip code has the lowest median tax rate of 1.32%. Understanding how these cities compare with Camden provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Camden Tax Rate
1.32%
Average Knox County Tax Rate
1.55%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Camden, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04843 | 1.32% | 1.32% | 1.32% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Camden, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Camden, Maine. 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 Knox 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 in Camden 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 Camden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04843 has the highest median tax bill at $5,317, which is significantly above the national median property tax rate of 0.99%.
Average Camden Assessed Value
$402,600
Average Knox County Assessed Value
$198,500
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Camden, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04843 | $208,760 | $293,500 | $402,600 | $601,800 | $953,160 |
Source: Ownwell
Property Tax Bills Across Camden, Maine
In Camden, located in Knox County, ME, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. For Camden, the median home price is $402,600, and the property tax bills can vary significantly. Homeowners in the 25th percentile pay around $3,887 annually, while those in the 75th percentile face bills of approximately $7,948. At the 90th percentile, the tax bill can soar to $12,620. The highest and lowest median tax bills in Camden are both $5,317, indicating some uniformity in certain areas. Compared to the national median property tax rate of 0.99%, Camden's rates can be quite substantial, impacting homeowners' financial planning and overall cost of living.
Average Camden Tax Bill
$5,317
Average Knox County Tax Bill
$3,340
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Camden, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04843 | $2,779 | $3,887 | $5,317 | $7,948 | $12,620 |
Source: Ownwell