Bradley, Maine Property Taxes
The median property tax rate in Bradley, ME is 1.55%, slightly lower than the state median of 1.57% but significantly higher than the national median of 0.99%. With a median home value of $120,000 in Bradley, the typical annual property tax bill reaches $1,860, which is below the national median of $2,690. Property taxes in Bradley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Bradley'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 Bradley or another part of Penobscot County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bradley, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$1,860
Ownwell’s Bradley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bradley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradley 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 Bradley, Maine
Property taxes in Bradley, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradley is 1.55%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bradley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradley 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 Bradley's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04411 has the same median property tax rate of 1.55%. Understanding how these cities compare with Bradley provides valuable insights into the varying tax landscape across Penobscot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradley Tax Rate
1.55%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradley, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04411 | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Bradley, Maine
In Bradley, 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 Penobscot 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 Bradley, 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 Bradley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill, both standing at $1,860, is 04411.
Average Bradley Assessed Value
$120,000
Average Penobscot County Assessed Value
$141,580
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bradley, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04411 | $33,200 | $74,950 | $120,000 | $178,000 | $238,800 |
Source: Ownwell
Property Tax Bills Across Bradley, Maine
In Bradley, located in Penobscot County, ME, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. The median property tax rate in Bradley is 1.55%, which is significantly higher than the national median property tax rate of 0.99%. For homeowners, this means that a property with a median home price of $120,000 would result in an annual tax bill of approximately $1,860. This figure can vary widely, as seen in the 25th percentile tax bill of $1,162 and the 75th percentile tax bill of $2,759. At the higher end, the 90th percentile tax bill reaches up to $3,701. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners must consider these taxes as a significant part of their annual expenses, influencing both budgeting and long-term financial planning.
Average Bradley Tax Bill
$1,860
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradley, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04411 | $515 | $1,162 | $1,860 | $2,759 | $3,701 |
Source: Ownwell