Sumner, Maine Property Taxes
The median property tax rate in Sumner, ME is 2.07%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Sumner, the typical annual property tax bill reaches $2,429, slightly below the national median of $2,690. Property taxes in Sumner 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 Sumner'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 Sumner 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
Sumner, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.07%
Estimate Property Tax Bill
$2,435
Ownwell’s Sumner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sumner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sumner 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 Sumner, Maine
Property taxes in Sumner, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sumner is 2.07%, significantly higher than the U.S. national median of 0.99%. Local government entities within Sumner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumner 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 Sumner's effective property tax rate to other areas in Maine and the national median. For comparison, the ZIP code 04292 has both the highest and lowest median property tax rate of 2.07%. Understanding how these values compare with Sumner provides valuable insights into the varying tax landscape across Oxford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sumner Tax Rate
2.07%
Average Oxford County Tax Rate
1.50%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sumner, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04292 | 2.06% | 2.06% | 2.07% | 2.07% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Sumner, Maine
In Sumner, 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 Oxford 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 Sumner, 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 Sumner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $2,429 in zip code 04292, which is also the lowest median tax bill, reflecting the uniformity in tax assessments within the area.
Average Sumner Assessed Value
$117,628
Average Oxford County Assessed Value
$138,018
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sumner, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04292 | $55,871 | $82,711 | $117,628 | $154,234 | $217,119 |
Source: Ownwell
Property Tax Bills Across Sumner, Maine
In Sumner, property tax bills are calculated based on the assessed value of your property and the local tax rate set by Oxford County. The assessed value is determined by the town's tax assessor and reflects the market value of your home. For instance, with a median home price of $117,628, the tax bill can vary significantly. Homeowners at the 25th percentile can expect a tax bill around $1,708, while those at the 75th percentile may see bills as high as $3,184. The top 10% of taxpayers might face tax bills up to $4,484. Factors influencing these calculations include property size, location, and any improvements made to the property. These taxes fund essential local services such as schools, roads, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Sumner's rates can be relatively high, making it crucial for homeowners to understand their tax obligations and explore possible exemptions or appeals to manage their financial responsibilities effectively.
Average Sumner Tax Bill
$2,429
Average Oxford County Tax Bill
$2,200
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumner, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04292 | $1,154 | $1,708 | $2,429 | $3,184 | $4,484 |
Source: Ownwell