Kingman Twp, Maine Property Taxes
The median property tax rate in Kingman 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 Kingman Twp at $97,175, the typical annual property tax bill is $803, significantly below the national median of $2,690. Property taxes in Kingman Twp are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kingman 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 Kingman 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
Kingman Twp, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$807
Ownwell’s KINGMAN TWP Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in KINGMAN TWP with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in KINGMAN 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 Kingman Twp, Maine
Property taxes in Kingman Twp, Maine, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingman Twp is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Kingman Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingman 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 Kingman Twp's effective property tax rate to other counties in Maine and the national median. For comparison, the 04451 zip code has the highest median property tax rate of 0.83%, while the 04451 zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Kingman 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 Kingman 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 Kingman Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04451 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Kingman Twp, Maine
In Kingman Twp, 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 Kingman Twp, 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 Kingman Twp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kingman Twp is $97,175, with the 25th percentile tax bill at $429 and the 75th percentile tax bill at $1,206. The highest and lowest median tax bills are both $803 in zip code 04451.
Average Kingman Twp Assessed Value
$97,175
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 Kingman Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04451 | $33,502 | $51,955 | $97,175 | $145,955 | $169,778 |
Source: Ownwell
Property Tax Bills Across Kingman Twp, Maine
In Kingman Township, located in Penobscot County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Kingman Township is $97,175. To determine the tax bill, the assessed value is multiplied by the local tax rate, which is set by local government authorities. Various factors, including property improvements, market conditions, and neighborhood characteristics, influence the assessed value. Homeowners in Kingman Township face a range of property tax bills. At the 25th percentile, the tax bill is $429, while at the 75th percentile, it rises to $1206. Those in the 90th percentile can expect to pay around $1403. The highest and lowest median tax bills recorded are both $803 in the 04451 zip code, reflecting a relatively uniform tax burden across the area. Compared to the national median property tax rate of 0.99%, Kingman Township's rates can significantly impact homeowners, making it crucial for them to understand how their tax bills are determined and budget accordingly.
Average Kingman Twp Tax Bill
$803
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingman Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04451 | $276 | $429 | $803 | $1,206 | $1,403 |
Source: Ownwell