Baileyville, Maine Property Taxes
The median property tax rate in Baileyville, ME is 1.97%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Baileyville at $69,000, the typical annual property tax bill reaches $1,340, which is below the national median of $2,690. Property taxes in Baileyville 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 Baileyville'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 Baileyville or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baileyville, 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 Baileyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baileyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baileyville 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 Baileyville, Maine
Property taxes in Baileyville, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baileyville is 1.97%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Baileyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baileyville 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 Baileyville's effective property tax rate to other areas within Washington County and the national median. For comparison, the 04694 zip code has the highest median property tax rate of 1.97%, while the same zip code also has the lowest median tax rate of 1.97%. Understanding how these figures compare with Baileyville provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baileyville Tax Rate
1.97%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baileyville, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04694 | 1.97% | 1.97% | 1.97% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Baileyville, Maine
In Baileyville, 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 Washington 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 Baileyville, 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. For instance, the median home price in Baileyville is $69,000, with tax bills ranging from $947 at the 25th percentile to $2,689 at the 90th percentile. The zip code 04694 has the highest and lowest median tax bill at $1,340. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Baileyville Assessed Value
$69,000
Average Washington County Assessed Value
$97,800
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baileyville, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04694 | $30,240 | $48,450 | $69,000 | $100,400 | $139,260 |
Source: Ownwell
Property Tax Bills Across Baileyville, Maine
In Baileyville, located in Washington County, ME, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors and is intended to reflect the property's market value. Homeowners in Baileyville face a median property tax bill of $1,340, which is significantly higher than the national median property tax rate of 0.99%. This higher rate can lead to substantial annual tax bills for homeowners. Several factors influence the tax bill, including the assessed value of the home and the local tax rate. For example, the 25th percentile of tax bills in Baileyville is $947, while the 75th percentile is $1,934, and the 90th percentile reaches up to $2,689. These variations indicate that homeowners with higher-valued properties or those in areas with higher tax rates will face larger tax bills. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners' annual expenses and overall financial planning.
Average Baileyville Tax Bill
$1,340
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Baileyville, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04694 | $585 | $947 | $1,340 | $1,934 | $2,689 |
Source: Ownwell