Waterboro, Maine Property Taxes
The median property tax rate in Waterboro, ME is 1.32%, which is considerably higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Waterboro at $249,100, the typical annual property tax bill reaches $3,288, exceeding the national median of $2,690. Property taxes in Waterboro 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 Waterboro'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 Waterboro 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
Waterboro, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Waterboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterboro 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 Waterboro, Maine
Property taxes in Waterboro, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterboro is 1.32%, significantly higher than the U.S. national median of 0.99%. Local government entities within Waterboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterboro 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 Waterboro's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04087 in York County has a median property tax rate of 1.32%. Understanding how these areas compare with Waterboro 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 Waterboro Tax Rate
1.32%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04087 | 1.32% | 1.32% | 1.32% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Waterboro, Maine
In Waterboro, 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 Waterboro, 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 Waterboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Waterboro stands at $249,100, with tax bills ranging from $2,266 at the 25th percentile to $5,452 at the 90th percentile. The zip code 04087 has both the highest and lowest median tax bill at $3,288.
Average Waterboro Assessed Value
$249,100
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 Waterboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04087 | $59,200 | $171,700 | $249,100 | $329,400 | $413,000 |
Source: Ownwell
Property Tax Bills Across Waterboro, Maine
In Waterboro, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate set by York County. The assessed value is determined by the local assessor's office, which evaluates the property's market value and then applies an assessment ratio. For example, with a median home price of $249,100, the tax bill can vary significantly. Homeowners in Waterboro typically see tax bills ranging from $2,266 at the 25th percentile to $5,452 at the 90th percentile, reflecting the variability in property values and assessment practices. The highest median tax bill in the area is $3,288, found in the 04087 zip code. These property taxes fund essential services such as schools, emergency services, and public infrastructure. Homeowners should be aware that higher property values can lead to higher tax bills, which may impact their overall cost of living. Comparing these rates to the national median property tax rate of 0.99% highlights how local conditions can influence tax obligations.
Average Waterboro Tax Bill
$3,288
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterboro, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04087 | $781 | $2,266 | $3,288 | $4,349 | $5,452 |
Source: Ownwell