Dayton, Maine Property Taxes
The median property tax rate in Dayton, ME is 1.42%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Dayton, the typical annual property tax bill reaches $4,009, exceeding the national median of $2,690. Property taxes in Dayton 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 Dayton'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 Dayton 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
Dayton, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$4,011
Ownwell’s Dayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dayton 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 Dayton, Maine
Property taxes in Dayton, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dayton is 1.42%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Dayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dayton 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 Dayton's effective property tax rate to other counties in Maine and the national median. For comparison, the 04005 zip code has the highest median property tax rate of 1.42%, while the 04005 zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Dayton 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 Dayton Tax Rate
1.42%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dayton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04005 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Dayton, Maine
In Dayton, 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. In Dayton, 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 Dayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dayton is $282,500, with the 25th percentile tax bill at $3,320 and the 75th percentile at $4,839. Interestingly, the zip code with both the highest and lowest median tax bills is 04005, with a median tax bill of $4,009.
Average Dayton Assessed Value
$282,500
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 Dayton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04005 | $191,940 | $234,000 | $282,500 | $341,000 | $421,660 |
Source: Ownwell
Property Tax Bills Across Dayton, Maine
In Dayton, York County, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is an estimate of the home's market value, which is periodically updated by local assessors. Factors such as property size, location, and home improvements can influence this assessed value. For homeowners in Dayton, the median home price is $282,500. The property tax bill can vary significantly, with the 25th percentile at $3,320 and the 75th percentile reaching $4,839. At the 90th percentile, homeowners might see bills as high as $5,983. These figures highlight the variability and potential financial impact of property taxes on residents. Comparatively, the national median property tax rate is 0.99%, positioning Dayton’s property tax rates as relatively high. This can affect homeowners by increasing their annual expenses, influencing decisions on home purchases, and impacting long-term financial planning. Understanding these factors is crucial for homeowners to manage their property tax liabilities effectively.
Average Dayton Tax Bill
$4,009
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Dayton, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04005 | $2,723 | $3,320 | $4,009 | $4,839 | $5,983 |
Source: Ownwell