Cooper, Maine Property Taxes
The median property tax rate in Cooper, 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 Cooper at $109,700, the typical annual property tax bill reaches $2,088, which is below the national median of $2,690. Property taxes in Cooper 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 Cooper'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 Cooper 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
Cooper, 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 COOPER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in COOPER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in COOPER 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 Cooper, Maine
Property taxes in Cooper, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cooper is 1.97%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Cooper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cooper 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 Cooper's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04657 has both the highest and lowest median property tax rate of 1.97%. Understanding how these cities compare with Cooper 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 Cooper 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 Cooper, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04657 | 1.97% | 1.97% | 1.97% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Cooper, Maine
In Cooper, 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 Cooper, 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. The median home price in Cooper is $109,700, with tax bills ranging from $1,422 at the 25th percentile to $3,529 at the 90th percentile. Notably, the highest and lowest median tax bills are both $2,088, found in zip code 04657. 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 Cooper helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cooper Assessed Value
$109,700
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 Cooper, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04657 | $44,040 | $76,400 | $109,700 | $148,300 | $179,140 |
Source: Ownwell
Property Tax Bills Across Cooper, Maine
In Cooper, located in Washington County, ME, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in Cooper is $109,700. To calculate the tax bill, the assessed property value is multiplied by the local tax rate. For example, if the tax rate is 2%, a home valued at $109,700 would generate a tax bill of approximately $2,194 annually. Several factors influence the final tax bill, including the property's location, size, and any exemptions or abatements that the homeowner may qualify for. The tax bill can vary significantly; for instance, the 25th percentile tax bill is around $1,422, while the 75th percentile reaches $2,922, and the 90th percentile climbs to $3,529. The consistency of the median tax bill across different zip codes within Cooper, all being $2,088, reflects a relatively uniform tax assessment approach in the area. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Cooper.
Average Cooper Tax Bill
$2,088
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Cooper, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04657 | $868 | $1,422 | $2,088 | $2,922 | $3,529 |
Source: Ownwell