Machiasport, Washington County, Maine Property Taxes
The median property tax rate in Machiasport, ME is 1.23%, considerably higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Machiasport, the typical annual property tax bill reaches $1,505, which is below the national median of $2,690. Property taxes in Machiasport 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 Machiasport'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 Machiasport 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
Machiasport, Washington County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,504
$1,396
Ownwell’s Machiasport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Machiasport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Machiasport 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 Machiasport, Washington County, Maine
Property taxes in Machiasport, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Machiasport is 1.23%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Machiasport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Machiasport 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 Machiasport's effective property tax rate to other counties in Maine and the national median. For comparison, the 04655 zip code has both the highest and lowest median property tax rate of 1.23%. Understanding how these cities compare with Machiasport 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 Machiasport Tax Rate
1.23%
Average Washington County Tax Rate
1.70%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Machiasport, Washington County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04655 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Machiasport, Washington County, Maine
In Machiasport, 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 Machiasport, 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 Machiasport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Machiasport is $122,270, with tax bills ranging significantly. The 25th percentile tax bill is $874, while the 75th percentile tax bill is $2,466. The highest median tax bill is $1,505 in the 04655 zip code, which is also the lowest.
Property Tax Assessment Values Across Machiasport, Washington County, Maine
Source: Ownwell
$40,740
$112,570
$184,400
Average Machiasport Assessed Value
$122,270
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 Machiasport, Washington County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04655 | $41,110 | $71,060 | $122,270 | $198,910 | $338,836 |
Source: Ownwell
Property Tax Bills Across Machiasport, Washington County, Maine
Property tax bills in Machiasport, located in Washington County, ME, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessor and is meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Machiasport, the median home price stands at $122,270. Property tax bills can vary significantly, with the 25th percentile tax bill at $874 and the 75th percentile reaching $2,466. At the 90th percentile, homeowners could see tax bills as high as $4,168. The median tax bill in the area is $1,505, which is notably higher than the national median property tax rate of 0.99%. This variation can impact homeowners differently, depending on the assessed value of their property and the specific tax rate applied. Understanding these factors can help homeowners anticipate their annual property tax obligations.
Average Machiasport Tax Bill
$1,505
Average Washington County Tax Bill
$1,700
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Machiasport, Washington County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04655 | $506 | $874 | $1,505 | $2,466 | $4,168 |
Source: Ownwell