Grindstone Twp, Penobscot County, Maine Property Taxes
The median property tax rate in Grindstone Twp, ME is 0.83%, which is lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Grindstone Twp at $83,435, the typical annual property tax bill is $690, significantly below the national median of $2,690. Property taxes in Grindstone Twp 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 Grindstone Twp'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 Grindstone Twp 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
Grindstone Twp, Penobscot County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$693
$643
Ownwell’s Grindstone Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grindstone Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grindstone Twp 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 Grindstone Twp, Penobscot County, Maine
Property taxes in Grindstone Twp, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grindstone Twp is 0.83%, which is lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Grindstone Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grindstone Twp 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 Grindstone Twp's effective property tax rate to other counties in Maine and the national median. For comparison, the 04460 zip code has the highest median property tax rate of 0.83%, while the 04460 zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Grindstone Twp 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 Grindstone Twp Tax Rate
0.83%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grindstone Twp, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04460 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Grindstone Twp, Penobscot County, Maine
In Grindstone Township, 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. 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 Grindstone Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Grindstone Township is $83,435. The tax bill ranges from $464 at the 25th percentile to $1,144 at the 90th percentile. The highest and lowest median tax bill in the area is $690, found in the 04460 zip code.
Property Tax Assessment Values Across Grindstone Twp, Penobscot County, Maine
Source: Ownwell
$49,573
$134,232
$218,890
Average Grindstone Twp Assessed Value
$83,435
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 Grindstone Twp, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04460 | $42,300 | $56,158 | $83,435 | $123,188 | $133,546 |
Source: Ownwell
Property Tax Bills Across Grindstone Twp, Penobscot County, Maine
In Grindstone Township, Penobscot County, ME, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate various factors such as the size, location, and condition of the property. Once the assessed value is established, it is multiplied by the local property tax rate to determine the tax bill. Homeowners in Grindstone Township can expect a range of property tax bills. For instance, the tax bill at the 25th percentile is $464, while at the 75th percentile, it rises to $1018. The 90th percentile tax bill is $1144, indicating that higher-valued properties incur steeper taxes. The median home price in Grindstone Township is $83,435, which is relatively modest compared to national figures. These property taxes significantly impact homeowners by affecting their annual expenses and potentially influencing their decisions to buy or sell properties. With a median property tax rate of 0.99% nationally, Grindstone Township's tax rates offer a comparative perspective for property owners.
Average Grindstone Twp Tax Bill
$690
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Grindstone Twp, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04460 | $350 | $464 | $690 | $1,018 | $1,144 |
Source: Ownwell