Biddeford Pool, Maine Property Taxes
The median property tax rate in Biddeford Pool, ME is 1.64%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Biddeford Pool, the typical annual property tax bill reaches $14,769, exceeding the national median of $2,690. Property taxes in Biddeford Pool 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 Biddeford Pool'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 Biddeford Pool 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
Biddeford Pool, 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 Biddeford Pool Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Biddeford Pool with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Biddeford Pool 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 Biddeford Pool, Maine
Property taxes in Biddeford Pool, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Biddeford Pool is 1.64%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Biddeford Pool set these rates annually, and they can vary significantly across different neighborhoods. Each year, Biddeford Pool 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 Biddeford Pool's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04006 has the highest median property tax rate of 1.64%, while the same zip code also has the lowest median tax rate of 1.64%. Understanding how these cities compare with Biddeford Pool provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Biddeford Pool Tax Rate
1.64%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Biddeford Pool, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04006 | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Biddeford Pool, Maine
In Biddeford Pool, 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 York 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. Assessment notices in Biddeford Pool 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 Biddeford Pool helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04006 has both the highest and lowest median tax bill, recorded at $14,769. This means that property owners in this area should be particularly vigilant in understanding their property tax assessments to ensure they are accurate and fair.
Average Biddeford Pool Assessed Value
$900,000
Average York County Assessed Value
$307,400
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Biddeford Pool, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04006 | $713,880 | $740,600 | $900,000 | $1,120,800 | $1,351,760 |
Source: Ownwell
Property Tax Bills Across Biddeford Pool, Maine
In Biddeford Pool, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the York County assessor and reflects the market value of the property. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $900,000, homeowners can expect significant tax bills. The tax bill at the 25th percentile is around $12,153, while at the 75th percentile, it rises to approximately $18,392. For those in the 90th percentile, tax bills can reach up to $22,182. These figures highlight the substantial financial responsibility for homeowners in Biddeford Pool. Compared to the national median property tax rate of 0.99%, the rates in this region can result in higher tax bills, affecting homeowners' overall financial planning and housing affordability.
Average Biddeford Pool Tax Bill
$14,769
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Biddeford Pool, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04006 | $11,715 | $12,153 | $14,769 | $18,392 | $22,182 |
Source: Ownwell