Frenchtown Twp, Maine Property Taxes
The median property tax rate in Frenchtown Twp, ME is 0.68%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Frenchtown Twp being $258,540, the typical annual property tax bill reaches $1,766, which is significantly below the national median of $2,690. Property taxes in Frenchtown Twp 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 Frenchtown 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 Frenchtown 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
Frenchtown Twp, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Frenchtown Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frenchtown Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frenchtown 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 Frenchtown Twp, Maine
Property taxes in Frenchtown Twp, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frenchtown Twp is 0.68%, lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Frenchtown Twp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frenchtown 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 Frenchtown Twp's effective property tax rate to other areas in Maine and the national median. For comparison, the 04441 zip code has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with Frenchtown Twp provides valuable insights into the varying tax landscape across Piscataquis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frenchtown Twp Tax Rate
0.68%
Average Piscataquis County Tax Rate
2.00%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frenchtown Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04441 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Frenchtown Twp, Maine
In Frenchtown 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 local 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 Frenchtown 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. The median home price in Frenchtown Twp is $258,540, with annual tax bills ranging from $1,019 at the 25th percentile to $4,487 at the 90th percentile. The zip code 04441 has both the highest and lowest median tax bill of $1,766. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Frenchtown Twp Assessed Value
$258,540
Average Piscataquis County Assessed Value
$100,500
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frenchtown Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04441 | $137,615 | $149,225 | $258,540 | $309,258 | $401,595 |
Source: Ownwell
Property Tax Bills Across Frenchtown Twp, Maine
In Frenchtown Twp, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local assessor's office and is meant to reflect the market value of the property. Once the assessed value is established, the property tax rate, which is set by local government authorities, is applied to this value. For homeowners in Frenchtown Twp, understanding how property tax bills are calculated is crucial. The median home price in the area is $258,540. Property tax bills can vary significantly, with the 25th percentile at $1,019, the 75th percentile at $2,112, and the 90th percentile reaching up to $4,487. These figures show a range of what homeowners might expect to pay, depending on their property's assessed value and the applicable tax rate. Comparatively, the national median property tax rate is 0.99%, providing a benchmark for understanding local tax burdens. This variation in tax bills can significantly impact homeowners, influencing both their annual budgets and long-term financial planning.
Average Frenchtown Twp Tax Bill
$1,766
Average Piscataquis County Tax Bill
$1,766
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Frenchtown Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04441 | $940 | $1,019 | $1,766 | $2,112 | $4,487 |
Source: Ownwell