Prentiss Twp, Penobscot County, Maine Property Taxes
Median Prentiss Twp, ME effective property tax rate: 0.83%, significantly lower than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median Prentiss Twp, ME home value: $86,590
Median annual Prentiss Twp, ME tax bill: $744, $1,656 lower than the national median property tax bill of $2,400.
How are property taxes in Penobscot calculated?
Property taxes in Prentiss Twp, ME are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Prentiss Twp’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Prentiss Twp, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Prentiss Twp, Penobscot County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.83%
Estimate Property Tax Bill
$719
$667
Property Tax Rates Across Prentiss Twp, Penobscot County, Maine
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Prentiss Township, located in Penobscot County, Maine, the effective property tax rate is 0.83%. This rate is notably lower than the national median property tax rate of 1.02%. Comparing this rate to other cities in Maine, Prentiss Township stands out with a relatively low rate, offering potential savings for property owners. The uniformity of the tax rate across the area underscores the consistency in tax assessments within this region. For residents and property owners, understanding these rates is crucial for financial planning and assessing the affordability of living in this community. With property taxes being a significant expense for homeowners, the lower rate in Prentiss Township can be a persuasive factor for those considering purchasing property in this area.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Prentiss Twp Tax Rate
0.83%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Penobscot County Tax Rate
1.92%
Median Effective Maine Tax Rate
1.57%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Prentiss Twp, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04487 | 0.83% | 0.83% | 0.83% | 0.83% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Prentiss Twp, Penobscot County, Maine
When examining property taxes in Prentiss Township, ME, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Penobscot County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Penobscot County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Prentiss Township.
For example, the median home price in Prentiss Township is $86,590, with tax bills ranging significantly across the county. Zip code 04487 has the highest median home price at $86,590.
Property Tax Assessment Values Across Prentiss Twp, Penobscot County, Maine
Source: Ownwell
$49,573
$134,232
$218,890
Median Prentiss Twp Market Value
$86,590
Median Penobscot County Market Value
$141,580
Median Maine Market Value
$204,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Prentiss Twp, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04487 | $28,044 | $43,630 | $86,590 | $117,642 | $158,212 |
Source: Ownwell
Property Tax Bills Across Prentiss Twp, Penobscot County, Maine
In Prentiss Township, located in Penobscot County, ME, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The median home price in this area is $86,590. While the national median property tax rate is 1.02%, homeowners in Prentiss Township experience varying tax bills. The 25th percentile tax bill is $360, whereas the 75th percentile tax bill rises to $978, and the 90th percentile tax bill reaches $1,365. These figures illustrate the range of property tax burdens that homeowners may face, depending on their property's assessed value and specific circumstances.
Property taxes can significantly impact homeowners, influencing their overall cost of living and financial planning. Ownwell offers valuable assistance by providing property tax appeal and exemption services. By analyzing assessed values and identifying potential inaccuracies, Ownwell helps homeowners potentially lower their tax bills. This service can lead to substantial savings, ensuring that homeowners only pay their fair share of property taxes, easing financial strain, and enhancing financial security.
Median Prentiss Twp Tax Bill
$744
Median Penobscot County Tax Bill
$2,548
Median Maine Tax Bill
$3,200
Median United States Tax Bill
$2,400
Property Tax Bills Across Prentiss Twp, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04487 | $231 | $360 | $744 | $978 | $1,365 |
Source: Ownwell