Glenburn, Maine Property Taxes
The median property tax rate in Glenburn, ME is 1.68%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Glenburn at $156,150, the typical annual property tax bill reaches $2,616, just below the national median of $2,690. Property taxes in Glenburn are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Glenburn'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 Glenburn 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
Glenburn, 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 Glenburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glenburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glenburn 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 Glenburn, Maine
Property taxes in Glenburn, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glenburn is 1.68%, significantly higher than the U.S. national median of 0.99%. Local government entities within Glenburn set these rates annually, and they can vary across different neighborhoods. Each year, Glenburn 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 Glenburn's effective property tax rate to other areas in Penobscot County and the national median. For comparison, the zip code 04401 has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these areas compare with Glenburn 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 Glenburn Tax Rate
1.68%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glenburn, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04401 | 1.67% | 1.67% | 1.68% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Glenburn, Maine
In Glenburn, 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 Glenburn, 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. The median home price in Glenburn is $156,150, with property tax bills ranging from $1,710 at the 25th percentile to $4,543 at the 90th percentile. The highest and lowest median tax bills are both $2,616, found in the 04401 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glenburn Assessed Value
$156,150
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 Glenburn, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04401 | $45,010 | $102,125 | $156,150 | $205,780 | $271,176 |
Source: Ownwell
Property Tax Bills Across Glenburn, Maine
In Glenburn, located in Penobscot County, ME, property tax bills are calculated based on the assessed value of a home. The median home price in Glenburn is $156,150. Property taxes are determined by multiplying the assessed value by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For homeowners in Glenburn, the 25th percentile tax bill is approximately $1,710, while the 75th percentile tax bill rises to around $3,451. At the high end, the 90th percentile tax bill reaches about $4,543. This range indicates significant variability in tax bills, largely dependent on property assessments and local tax rates. Comparatively, Glenburn's property taxes can be understood in the context of the national median property tax rate of 0.99%. While this rate offers a benchmark, local variations in assessed values and tax rates mean that individual tax bills can differ substantially, impacting homeowners' annual financial planning.
Average Glenburn Tax Bill
$2,616
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Glenburn, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04401 | $754 | $1,710 | $2,616 | $3,451 | $4,543 |
Source: Ownwell