Northport, Maine Property Taxes
The median property tax rate in Northport, ME is 1.59%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Northport at $154,900, the typical annual property tax bill reaches $2,487, slightly below the national median of $2,690. Property taxes in Northport 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 Northport'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 Northport 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
Northport, 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 Northport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Northport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Northport 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 Northport, Maine
Property taxes in Northport, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Northport is 1.59%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Northport set these rates annually, and they can vary across different neighborhoods. Each year, Northport 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. Understanding how Northport's effective property tax rate compares to other areas in Waldo County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Northport Tax Rate
1.59%
Average Waldo County Tax Rate
1.74%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Northport, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04849 | 1.59% | 1.59% | 1.59% | 1.59% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Northport, Maine
In Northport, 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 Northport, 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 Northport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04849 has the highest and lowest median tax bill at $2,487, highlighting the uniformity in tax assessments within the area.
Average Northport Assessed Value
$154,900
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 Northport, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04849 | $67,300 | $107,100 | $154,900 | $222,800 | $359,600 |
Source: Ownwell
Property Tax Bills Across Northport, Maine
In Northport, located in Waldo County, ME, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is an estimate of your property's worth, which is used to calculate the amount of tax you owe. Homeowners in Northport can expect a range of property tax bills, with the 25th percentile at $1,717 and the 75th percentile reaching $3,917. For those at the higher end, the 90th percentile tax bill is $5,988. The median home price in Northport is $154,900, and the property tax rate is a crucial factor in determining the final tax bill. Compared to the national median property tax rate of 0.99%, Northport's rates can significantly impact homeowners. Higher assessed values and tax rates can result in substantial annual tax bills, affecting household budgets and long-term financial planning. Understanding these factors can help homeowners anticipate their tax liabilities and manage their finances more effectively.
Average Northport Tax Bill
$2,487
Average Waldo County Tax Bill
$2,632
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Northport, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04849 | $1,070 | $1,717 | $2,487 | $3,917 | $5,988 |
Source: Ownwell