Eastport, Washington County, Maine Property Taxes
The median property tax rate in Eastport, ME is 2.60%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Eastport, the typical annual property tax bill reaches $2,122, which is below the national median of $2,690. Property taxes in Eastport 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 Eastport'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 Eastport 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
Eastport, Washington County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.6%
Estimate Property Tax Bill
$2,213
$2,053
Ownwell’s Eastport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eastport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eastport 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 Eastport, Washington County, Maine
Property taxes in Eastport, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eastport is 2.60%, significantly higher than the U.S. national median of 0.99%. Local government entities in Eastport set these rates annually, and they can vary across different neighborhoods. Each year, Eastport 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 Eastport's effective property tax rate to other areas and the national median. For comparison, the zip code 04631 has both the highest and lowest median property tax rate of 2.60%, reflecting the uniformity within the region. Understanding how Eastport compares with other areas 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 regions.
Average Eastport Tax Rate
2.60%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastport, Washington County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04631 | 2.60% | 2.60% | 2.60% | 2.60% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Eastport, Washington County, Maine
In Eastport, 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 Eastport, 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 Eastport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Eastport are both $2,122, found in zip code 04631.
Property Tax Assessment Values Across Eastport, Washington County, Maine
Source: Ownwell
$40,740
$112,570
$184,400
Average Eastport Assessed Value
$85,100
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 Eastport, Washington County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04631 | $47,860 | $65,000 | $85,100 | $119,000 | $177,560 |
Source: Ownwell
Property Tax Bills Across Eastport, Washington County, Maine
In Eastport, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Eastport is $85,100, and property taxes are influenced by this valuation. The tax bill is determined by multiplying the assessed value by the local tax rate, which varies within different parts of Washington County. Homeowners in Eastport can expect tax bills ranging from $1,581 at the 25th percentile to $2,967 at the 75th percentile, with the 90th percentile reaching as high as $4,473. The highest median tax bill in the area is $2,122, which is reflective of the local economic conditions and public service funding needs. Compared to the national median property tax rate of 0.99%, Eastport's property tax rates can significantly impact homeowners, influencing their financial planning and the overall cost of homeownership. Understanding these factors helps homeowners anticipate their annual expenses and manage their budgets more effectively.
Average Eastport Tax Bill
$2,122
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastport, Washington County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04631 | $1,078 | $1,581 | $2,122 | $2,967 | $4,473 |
Source: Ownwell