Machias, Maine Property Taxes
The median property tax rate in Machias, ME is 2.17%, significantly higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Machias at $91,200, the typical annual property tax bill reaches $1,977, which is below the national median of $2,690. Property taxes in Machias are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Machias'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 Machias 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
Machias, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$1,979
Ownwell’s Machias Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Machias with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Machias 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 Machias, Maine
Property taxes in Machias, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Machias is 2.17%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Machias set these rates annually, and they can vary significantly across different neighborhoods. Each year, Machias 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 Machias's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04654 has the highest median property tax rate of 2.17%, which is the same as the lowest median tax rate in the same zip code. Understanding how these cities compare with Machias 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 Machias Tax Rate
2.17%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Machias, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04654 | 2.17% | 2.17% | 2.17% | 2.17% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Machias, Maine
In Machias, 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 Machias, 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 Machias helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 04654, both valued at $1,977.
Average Machias Assessed Value
$91,200
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 Machias, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04654 | $22,480 | $55,550 | $91,200 | $126,275 | $178,030 |
Source: Ownwell
Property Tax Bills Across Machias, Maine
In Machias, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Machias is $91,200, and homeowners can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is around $1,226, while the 75th percentile reaches $2,691. At the 90th percentile, tax bills can soar to $3,552. Several factors influence these tax bills, including property location, home improvements, and market trends. In Washington County, where Machias is located, the highest and lowest median tax bills are both $1,977, reflecting a consistent rate across different areas. Compared to the national median property tax rate of 0.99%, Machias homeowners may find their tax bills to be relatively moderate, depending on their property’s assessed value and specific circumstances. This can significantly impact homeowners' financial planning and overall cost of living.
Average Machias Tax Bill
$1,977
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Machias, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04654 | $564 | $1,226 | $1,977 | $2,691 | $3,552 |
Source: Ownwell