Morrill, Maine Property Taxes
The median property tax rate in Morrill, ME is 1.27%, which is higher than the national median of 0.99% but lower than Maine's state median of 1.57%. With the median home value in Morrill at $200,000, the typical annual property tax bill amounts to $2,558, just below the national median of $2,690. Property taxes in Morrill are calculated based on the tax assessed value, often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Morrill'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 Morrill 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
Morrill, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$2,540
Ownwell’s MORRILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MORRILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MORRILL 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 Morrill, Maine
Property taxes in Morrill, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morrill is 1.27%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Morrill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morrill 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 Morrill's effective property tax rate to other counties in Maine and the national median. For comparison, the 04952 zip code has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Morrill provides valuable insights into the varying tax landscape across Waldo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morrill Tax Rate
1.27%
Average Waldo County Tax Rate
1.74%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morrill, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04952 | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Morrill, Maine
In Morrill, 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 Morrill, 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 Morrill is $200,000, with tax bills ranging from $1,820 at the 25th percentile to $4,338 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Morrill Assessed Value
$200,000
Average Waldo County Assessed Value
$154,000
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morrill, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04952 | $84,300 | $142,450 | $200,000 | $259,600 | $337,250 |
Source: Ownwell
Property Tax Bills Across Morrill, Maine
In Morrill, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The local tax authority determines the assessed value by evaluating the property's market value. Homeowners in Morrill can expect a median home price of $200,000. From this assessed value, the tax rate is applied to calculate the annual property tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the home. In Morrill, the tax bill at the 25th percentile is $1,820, while at the 75th percentile, it rises to $3,308. The 90th percentile tax bill can reach up to $4,338. Comparatively, the national median property tax rate stands at 0.99%. Homeowners in Morrill may find their property tax bills higher or lower based on these assessments and rates. This system ensures that property taxes are proportionate to property values, impacting homeowners differently depending on their property's assessed value.
Average Morrill Tax Bill
$2,558
Average Waldo County Tax Bill
$2,632
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Morrill, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04952 | $1,070 | $1,820 | $2,558 | $3,308 | $4,338 |
Source: Ownwell