Kennebunk, Maine Property Taxes
The median property tax rate in Kennebunk, ME is 1.61%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Kennebunk, the typical annual property tax bill reaches $5,337, exceeding the national median of $2,690. Property taxes in Kennebunk 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 Kennebunk'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 Kennebunk 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
Kennebunk, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$5,352
Ownwell’s Kennebunk Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kennebunk with just two inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Kennebunk to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities and make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by York County, is used for property tax calculations, including any applicable exemptions.
Property Tax Rates Across Kennebunk, Maine
Property taxes in Kennebunk, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kennebunk is 1.61%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Kennebunk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kennebunk 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 Kennebunk's effective property tax rate to other counties in Maine and the national median. For comparison, the 04043 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Kennebunk 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 Kennebunk Tax Rate
1.61%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kennebunk, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04043 | 1.60% | 1.60% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Kennebunk, Maine
In Kennebunk, 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 Assessor's Office 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 Kennebunk, 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. For example, the zip code 04043, which has both the highest and lowest median tax bills at $5,337, shows the variability within the area. 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 Kennebunk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kennebunk Assessed Value
$332,400
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 Kennebunk, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04043 | $199,700 | $252,400 | $332,400 | $465,825 | $693,300 |
Source: Ownwell
Property Tax Bills Across Kennebunk, Maine
Property tax bills in Kennebunk, York 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 reflects the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including property size, location, and market conditions. In Kennebunk, the median home price is $332,400, and tax bills can vary significantly. Homeowners at the 25th percentile pay around $4,051 annually, while those at the 75th percentile face bills of approximately $7,478. The top 10% of property tax bills can reach up to $11,127. With a median property tax rate higher than the national median of 0.99%, Kennebunk homeowners experience a considerable financial impact. Understanding these factors helps homeowners anticipate their tax obligations and better manage their finances.
Average Kennebunk Tax Bill
$5,337
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Kennebunk, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04043 | $3,208 | $4,051 | $5,337 | $7,478 | $11,127 |
Source: Ownwell