South Berwick, Maine Property Taxes
The median property tax rate in South Berwick, ME is 1.45%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in South Berwick, the typical annual property tax bill reaches $4,602, exceeding the national median of $2,690. Property taxes in South Berwick 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 South Berwick'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 South Berwick 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
South Berwick, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$4,589
Ownwell’s South Berwick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Berwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Berwick 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 South Berwick, Maine
Property taxes in South Berwick, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Berwick is 1.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within South Berwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Berwick 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 South Berwick's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 03908 has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with South Berwick 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 South Berwick Tax Rate
1.45%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Berwick, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03908 | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across South Berwick, Maine
In South Berwick, 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 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 South Berwick 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 03908, with a median tax bill of $4,602.
Average South Berwick Assessed Value
$316,450
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 South Berwick, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03908 | $198,200 | $267,550 | $316,450 | $381,675 | $467,340 |
Source: Ownwell
Property Tax Bills Across South Berwick, Maine
Property tax bills in South Berwick, located in York County, ME, are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is an estimate of the property's market value, which is periodically updated by local assessors. This value is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in South Berwick can expect a median property tax bill of around $4,602, which is higher than the national median property tax rate of 0.99%. Factors such as property size, location, and any improvements made to the home can influence the assessed value, thereby affecting the tax bill. For instance, the 25th percentile tax bill is approximately $3,896, while the 75th percentile tax bill can reach up to $5,548. Higher property tax bills can impact homeowners by increasing the overall cost of homeownership, which may affect affordability and long-term financial planning.
Average South Berwick Tax Bill
$4,602
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across South Berwick, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03908 | $2,883 | $3,896 | $4,602 | $5,548 | $6,790 |
Source: Ownwell