Gorham, Maine Property Taxes
The median property tax rate in Gorham, ME is 1.04%, slightly higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Gorham at $430,200, the typical annual property tax bill reaches $4,487, which exceeds the national median of $2,690. Property taxes in Gorham 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 Gorham'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 Gorham 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
Gorham, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$4,474
Ownwell’s Gorham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gorham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gorham 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 Gorham, Maine
Property taxes in Gorham, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gorham is 1.04%, which is higher than the U.S. national median of 0.99%. Local government entities within Gorham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gorham 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 Gorham's effective property tax rate to other areas in York County and the national median. For comparison, the zip code 04038 has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these areas compare with Gorham 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 Gorham Tax Rate
1.04%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gorham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04038 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Gorham, Maine
In Gorham, 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 local 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 Gorham, 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 Gorham 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 04038, with a median tax bill of $4,487.
Average Gorham Assessed Value
$430,200
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 Gorham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04038 | $430,200 | $430,200 | $430,200 | $430,200 | $430,200 |
Source: Ownwell
Property Tax Bills Across Gorham, Maine
In Gorham, ME, property tax bills are calculated based on the assessed value of a property. The local tax assessor determines this value, which is intended to reflect the property's market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Gorham, the median home price is $430,200, and homeowners typically see a tax bill around $4,487, which is significantly higher than the national median property tax rate of 0.99%. This higher rate can be attributed to local funding needs for services like schools, infrastructure, and public safety. Factors influencing the tax bill include property size, location, and any improvements made to the property. Homeowners in Gorham should be aware that these assessments can change annually, potentially altering their tax obligations. Understanding these factors can help homeowners anticipate and manage their property tax expenses more effectively.
Average Gorham Tax Bill
$4,487
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Gorham, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04038 | $4,487 | $4,487 | $4,487 | $4,487 | $4,487 |
Source: Ownwell