Athens, Maine Property Taxes
The median property tax rate in Athens, ME is 2.13%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Athens, the typical annual property tax bill reaches $1,582, which is below the national median of $2,690. Property taxes in Athens 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 Athens'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 Athens or another part of Somerset County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Athens, 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 Athens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Athens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Athens 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 Athens, Maine
Property taxes in Athens, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Athens is 2.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Athens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Athens 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 Athens' effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04912 has both the highest and lowest median property tax rate of 2.13%. Understanding how these cities compare with Athens provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Athens Tax Rate
2.13%
Average Somerset County Tax Rate
1.77%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Athens, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04912 | 2.12% | 2.12% | 2.13% | 2.13% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Athens, Maine
In Athens, 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 Somerset 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 Athens, 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 Athens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 04912, with a value of $1,582, while the lowest median tax bill is also in zip code 04912, at $1,582.
Average Athens Assessed Value
$74,500
Average Somerset County Assessed Value
$105,900
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Athens, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04912 | $36,260 | $52,925 | $74,500 | $104,375 | $154,900 |
Source: Ownwell
Property Tax Bills Across Athens, Maine
In Athens, Somerset County, ME, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value, which is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $74,500, homeowners in Athens can expect varying tax bills depending on their property's assessed value and local tax rates. The 25th percentile tax bill is around $1,110, while the 75th percentile reaches $2,190, and the 90th percentile can go up to $3,263. These figures highlight the range of property tax bills homeowners might encounter. Comparatively, the national median property tax rate stands at 0.99%, providing a benchmark for understanding local tax burdens. Factors such as property size, location, and improvements can influence the assessed value, thereby impacting the final tax bill. High property taxes can significantly affect homeowners' financial planning, making it crucial to understand how these taxes are determined and managed.
Average Athens Tax Bill
$1,582
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Athens, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04912 | $770 | $1,110 | $1,582 | $2,190 | $3,263 |
Source: Ownwell