New Harbor, Lincoln County, Maine Property Taxes
The median property tax rate in New Harbor, ME is 0.72%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in New Harbor at $284,000, the typical annual property tax bill reaches $2,045, which is below the national median of $2,690. Property taxes in New Harbor 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 New Harbor'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 New Harbor 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
New Harbor, Lincoln County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$2,045
$1,898
Ownwell’s New Harbor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Harbor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Harbor 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 New Harbor, Lincoln County, Maine
Property taxes in New Harbor, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Harbor is 0.72%, which is lower than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within New Harbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Harbor 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 New Harbor's effective property tax rate to other counties in Maine and the national median. For comparison, the 04554 zip code has the highest median property tax rate of 0.72%, while the same 04554 zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with New Harbor provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Harbor Tax Rate
0.72%
Average Lincoln County Tax Rate
1.40%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Harbor, Lincoln County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04554 | 0.72% | 0.72% | 0.72% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across New Harbor, Lincoln County, Maine
In New Harbor, 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 Lincoln 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 New Harbor, 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. For instance, the highest median tax bill in the area is $2045 in the 04554 zip code, while the lowest median tax bill is also $2045 in the same zip code. 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 New Harbor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across New Harbor, Lincoln County, Maine
Source: Ownwell
$125,200
$379,800
$634,400
Average New Harbor Assessed Value
$284,000
Average Lincoln County Assessed Value
$224,290
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Harbor, Lincoln County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04554 | $164,240 | $202,550 | $284,000 | $500,700 | $750,320 |
Source: Ownwell
Property Tax Bills Across New Harbor, Lincoln County, Maine
Property tax bills in New Harbor, located in Lincoln County, ME, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and is meant to reflect the market value of the property. Homeowners in New Harbor can expect their property tax bills to vary significantly, with the 25th percentile paying around $1,458 annually, while those in the 90th percentile face bills as high as $5,402. The median home price in New Harbor is $284,000, which provides a benchmark for understanding these tax bills. Several factors influence the tax bill, including property size, location, and any improvements made. The local tax rate is applied to the assessed value to determine the final bill. Compared to the national median property tax rate of 0.99%, New Harbor's rates can be considered moderate to high, impacting homeowners' annual expenses significantly. This variation underscores the importance of accurate property assessments and understanding local tax rates for homeowners in New Harbor.
Average New Harbor Tax Bill
$2,045
Average Lincoln County Tax Bill
$2,866
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across New Harbor, Lincoln County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04554 | $1,182 | $1,458 | $2,045 | $3,605 | $5,402 |
Source: Ownwell