Penobscot County, ME Property Tax Search
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In-depth Penobscot County, ME Property Tax Information
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Property Tax Calculation
In New England region, the real property tax is a tax based on the value of real property. Counties, cities, towns, villages, school districts, and special districts each raise money through the real property tax. The money funds schools, pays for police and fire protection, maintains roads, and funds other municipal services enjoyed by residents.
Market value is the price a property would sell for when both buyer and seller seek the best price and neither is under pressure to buy or sell. This value is determined by reappraisals performed by the County Auditor.
| Land value | $40,700 | ||||||
| Improvement value | + | $215,100 | |||||
| Market value | = | $255,800 | |||||
Assessed Value
Assessed values in Penobscot County are an approximation of market value. The State of Maine requires that all towns complete a statistical revaluation every three years with a full inspection in the ninth year. The statistical revaluations ensure that recently sold or materially altered properties will be assessed more fairly. In a full inspection, every property is visited and evaluated. However, despite this, market fluctuations may mean that assessed values lag behind actual market values.
| Land assessed value | $40,700 | ||||||
| Improvement assessed value | + | $215,100 | |||||
| Assessed value | = | $255,800 | |||||
Property Tax
Property tax is calculated by multiplying the taxable value with the corresponding tax rates and is an estimate of what an owner not benefiting from tax exemptions or deductions would pay.
| Tax description | Assessed value | Tax rate | Tax amount | ||
|---|---|---|---|---|---|
| Property tax | $255,800 | x | 23.7998 | = | $6,088 |
Actual taxes might differ from the figures displayed here due to various abatement and financial assistance programs. For more information please visit Penobscot County's official web pages .
Penobscot County Stats for Property Taxes
For an easier overview of the difference in tax rates between counties, explore the charts below. You can also get additional insights on median home values, income levels and homeownership rates in your area.
Effective tax rate (%)
1.43% of Assessed Home Value
1.28% of Assessed Home Value
1.1% of Assessed Home Value
Median real estate taxes paid
$2,243
$2,722
$2,690
Median home value
$157,100
$212,100
$244,900
Median income
$55,125
$63,182
$69,021
Owner occupied housing (%)
69.9%
73.4%
64.6%
Renter occupied housing (%)
30.1%
26.6%
35.4%
Frequently Asked Questions on Property Taxes
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