Stetson, Penobscot County, Maine Property Taxes
The median property tax rate in Stetson, ME is 2.00%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Stetson at $120,750, the typical annual property tax bill reaches $2,415, just below the national median of $2,690. Property taxes in Stetson 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 Stetson'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 Stetson 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
Stetson, Penobscot County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2%
Estimate Property Tax Bill
$2,415
$2,241
Ownwell’s Stetson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stetson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stetson 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 Stetson, Penobscot County, Maine
Property taxes in Stetson, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stetson is 2.00%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Stetson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stetson 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 Stetson's effective property tax rate to other counties in Maine and the national median. For comparison, the 04488 zip code has the highest median property tax rate of 2.00%, while the same zip code also has the lowest median tax rate of 2.00%. Understanding how these cities compare with Stetson 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 Stetson Tax Rate
2.00%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stetson, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04488 | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Stetson, Penobscot County, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stetson, Maine. 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 Stetson, 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 Stetson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Stetson are both $2,415, found in the 04488 zip code.
Property Tax Assessment Values Across Stetson, Penobscot County, Maine
Source: Ownwell
$49,573
$134,232
$218,890
Average Stetson Assessed Value
$120,750
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 Stetson, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04488 | $57,100 | $81,250 | $120,750 | $156,775 | $206,310 |
Source: Ownwell
Property Tax Bills Across Stetson, Penobscot County, Maine
Property tax bills in Stetson, located in Penobscot County, ME, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Stetson, this means that a median home price of $120,750 results in varying tax bills. For instance, the 25th percentile tax bill is $1,625, while the 75th percentile tax bill reaches $3,136. At the higher end, the 90th percentile tax bill can be as much as $4,126. These property taxes significantly impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, the tax rates in Stetson can lead to higher or lower annual bills depending on the property's assessed value and the specific tax rate applied. This variability underscores the importance of understanding local tax assessments for effective financial planning.
Average Stetson Tax Bill
$2,415
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Stetson, Penobscot County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04488 | $1,142 | $1,625 | $2,415 | $3,136 | $4,126 |
Source: Ownwell