Patten, Penobscot County, Maine Property Taxes
The median property tax rate in Patten, ME is 2.80%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Patten, the typical annual property tax bill reaches $1,442, exceeding the national median of $2,690. Property taxes in Patten are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Patten'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 Patten 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
Patten, Penobscot County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.8%
Estimate Property Tax Bill
$1,478
$1,372
Ownwell’s Patten Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Patten with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Patten 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 Patten, Penobscot County, Maine
Property taxes in Patten, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Patten is 2.80%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Patten set these rates annually, and they can vary significantly across different neighborhoods. Each year, Patten 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 Patten's effective property tax rate to other areas in Penobscot County and the national median. For comparison, the 04765 zip code has the highest median property tax rate of 2.80%, while the same zip code also has the lowest median tax rate of 2.80%. Understanding how these areas compare with Patten 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 Patten Tax Rate
2.80%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Patten, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04765 | 2.80% | 2.80% | 2.80% | 2.80% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Patten, Penobscot County, Maine
In Patten, 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 Patten, 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 Patten helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Patten is $52,800, with tax bills ranging from $1,044 at the 25th percentile to $2,668 at the 90th percentile. The highest and lowest median tax bill in Patten is $1,442 in the 04765 zip code.
Property Tax Assessment Values Across Patten, Penobscot County, Maine
Source: Ownwell
$49,573
$134,232
$218,890
Average Patten Assessed Value
$52,800
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 Patten, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04765 | $30,600 | $37,500 | $52,800 | $74,300 | $109,280 |
Source: Ownwell
Property Tax Bills Across Patten, Penobscot County, Maine
Property tax bills in Patten, located in Penobscot County, ME, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town’s assessor and reflects the market value of the property. Homeowners in Patten can expect their tax bills to vary significantly based on their property's value. For instance, the median home price in Patten is $52,800. The tax bill for properties at the 25th percentile is approximately $1,044, while those at the 75th percentile are around $2,033. Properties at the 90th percentile see tax bills as high as $2,668. These figures indicate that property taxes in Patten can be quite variable, affecting homeowners differently depending on their property’s assessed value. Compared to the national median property tax rate of 0.99%, Patten’s tax rates suggest a higher tax burden on homeowners, impacting their financial planning and homeownership costs significantly.
Average Patten Tax Bill
$1,442
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Patten, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04765 | $833 | $1,044 | $1,442 | $2,033 | $2,668 |
Source: Ownwell