Old Orchard Beach, Maine Property Taxes
The median property tax rate in Old Orchard Beach, ME is 1.22%, notably higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Old Orchard Beach at $319,500, the typical annual property tax bill reaches $3,911, significantly exceeding the national median of $2,690. Property taxes in Old Orchard Beach are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Old Orchard Beach'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 Old Orchard Beach 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
Old Orchard Beach, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$3,898
Ownwell’s Old Orchard Beach Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Old Orchard Beach with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Old Orchard Beach to provide an estimated property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in seeing trends at a neighborhood level, more localized information is available below. Your property’s assessed value is the value assigned by York County for property tax calculations, encompassing any applicable exemptions.
Property Tax Rates Across Old Orchard Beach, Maine
Property taxes in Old Orchard Beach, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Old Orchard Beach is 1.22%, higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Old Orchard Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Old Orchard Beach 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 Old Orchard Beach's effective property tax rate to other counties in Maine and the national median. For comparison, the 04064 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Old Orchard Beach 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 Old Orchard Beach Tax Rate
1.22%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Old Orchard Beach, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04064 | 1.22% | 1.22% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Old Orchard Beach, Maine
In Old Orchard Beach, 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 Old Orchard Beach, 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. The median home price in Old Orchard Beach is $319,500, with tax bills ranging significantly based on property values. For example, the 25th percentile tax bill is $2,696, while the 75th percentile tax bill is $5,558, and the 90th percentile tax bill reaches $7,291. 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 Old Orchard Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Old Orchard Beach, Maine
Source: Ownwell
$155,269
$527,635
$900,000
Average Old Orchard Beach Assessed Value
$319,500
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 Old Orchard Beach, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04064 | $150,730 | $220,200 | $319,500 | $453,525 | $595,470 |
Source: Ownwell
Property Tax Bills Across Old Orchard Beach, Maine
In Old Orchard Beach, located in York County, ME, property tax bills are determined through a combination of assessed property value and the local tax rate. The assessed value is an estimate of the property's market value as determined by the local assessor's office. This assessed value is then multiplied by the tax rate set by the local government to calculate the annual tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. Homeowners in Old Orchard Beach can expect a median tax bill of approximately $3,911, which is notably higher than the national median property tax rate of 0.99%. For instance, the 25th percentile tax bill is around $2,696, while the 75th percentile reaches $5,558, and the 90th percentile can go as high as $7,291. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners should be aware that property taxes can fluctuate based on changes in property value assessments and adjustments to the local tax rate.
Average Old Orchard Beach Tax Bill
$3,911
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Old Orchard Beach, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04064 | $1,845 | $2,696 | $3,911 | $5,558 | $7,291 |
Source: Ownwell