Newburgh, Maine Property Taxes
The median property tax rate in Newburgh, ME is 1.53%, considerably higher than the national median of 0.99% but slightly below the Maine state median of 1.57%. With the median home value in Newburgh at $179,788, the typical annual property tax bill reaches $2,751, surpassing the national median of $2,690. Property taxes in Newburgh 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 Newburgh'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 Newburgh 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
Newburgh, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$2,751
Ownwell’s Newburgh Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Newburgh with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Newburgh to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Newburgh, Maine
Property taxes in Newburgh, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newburgh is 1.53%, significantly higher than the U.S. national median of 0.99%. Local government entities within Newburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newburgh 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 Newburgh's effective property tax rate to other counties in Maine and the national median. For comparison, the 04444 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Newburgh provides valuable insights into the varying tax landscape across Penobscot, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newburgh Tax Rate
1.53%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newburgh, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04444 | 1.53% | 1.53% | 1.53% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Newburgh, Maine
In Newburgh, 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 Newburgh, 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 Newburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Newburgh is $179,788, with annual property tax bills ranging from $2,092 at the 25th percentile to $4,505 at the 90th percentile. The highest and lowest median tax bills are both $2,751 in the 04444 zip code.
Average Newburgh Assessed Value
$179,788
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 Newburgh, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04444 | $90,635 | $136,700 | $179,788 | $230,386 | $294,459 |
Source: Ownwell
Property Tax Bills Across Newburgh, Maine
In Newburgh, located in Penobscot County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value and apply a specific assessment ratio. The tax rate, often expressed as a percentage, is then applied to this assessed value to calculate the annual tax bill. For homeowners in Newburgh, the median home price is $179,788. Homeowners can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $2,092, while at the 75th percentile, they can reach up to $3,530. The highest tax bills, at the 90th percentile, can go as high as $4,505. Comparatively, the national median property tax rate is 0.99%, which highlights that Newburgh's property tax rates can be quite impactful for homeowners, especially when considering the assessed value of their homes. This variability underscores the importance of understanding local tax assessments and their implications on annual property tax obligations.
Average Newburgh Tax Bill
$2,751
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Newburgh, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04444 | $1,387 | $2,092 | $2,751 | $3,530 | $4,505 |
Source: Ownwell