Detroit, Somerset County, Maine Property Taxes
The median property tax rate in Detroit, ME, is 1.78%, significantly higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Detroit at $99,250, the typical annual property tax bill amounts to $1,762, which is below the national median of $2,690. Property taxes in Detroit are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Detroit's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Detroit or another part of Somerset County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Detroit, Somerset County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$1,767
$1,639
Ownwell’s Detroit Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Detroit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Detroit to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Detroit, Somerset County, Maine
Property taxes in Detroit, Maine, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Detroit stands at 1.78%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities in Detroit set these rates annually, and they can vary considerably across different neighborhoods. Each year, Detroit 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 Detroit's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04929 has the highest median property tax rate of 1.78%, while the same zip code also records the lowest median tax rate of 1.78%. Understanding how these areas compare with Detroit 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 Detroit Tax Rate
1.78%
Average Somerset County Tax Rate
1.77%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Detroit, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04929 | 1.77% | 1.77% | 1.77% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Detroit, Somerset County, Maine
In Detroit, Maine, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Detroit, 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 Detroit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04929 has both the highest and lowest median tax bill at $1,762, reflecting the uniformity in property tax assessments within the region.
Property Tax Assessment Values Across Detroit, Somerset County, Maine
Source: Ownwell
$74,500
$182,040
$289,580
Average Detroit Assessed Value
$99,250
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 Detroit, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04929 | $45,200 | $63,250 | $99,250 | $139,350 | $172,250 |
Source: Ownwell
Property Tax Bills Across Detroit, Somerset County, Maine
In Detroit, Somerset County, ME, property tax bills 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 market value of the property. Homeowners in Detroit can expect their property tax bills to vary significantly depending on the value of their homes. For instance, at the 25th percentile, tax bills are around $1,123, while at the 75th percentile, they rise to $2,474. For those in the 90th percentile, tax bills can reach up to $3,058. These tax bills are influenced by factors such as property size, location, and improvements made to the property. The median home price in Detroit is $99,250, and this plays a crucial role in determining the tax burden. Compared to the national median property tax rate of 0.99%, homeowners in Detroit may find their tax rates to be competitive, but the actual amounts can vary widely based on individual property assessments. This variability highlights the importance of understanding local tax policies and assessments to better manage property tax obligations.
Average Detroit Tax Bill
$1,762
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Detroit, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04929 | $802 | $1,123 | $1,762 | $2,474 | $3,058 |
Source: Ownwell