Maine Property Taxes, Maine Property Tax Appeals
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Maine Property Tax Appeals
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Maine Home buyers want to know how much to offer for a house, sellers want to know how much to list a house for. Those seeking a property tax appeal want to know the market value of comparable homes in order to make adjustments to their home's worth. Variations in age, size, condition of the home, and other differences in amenities plus other factors weigh in on the overall market value of a home.
Maine real estate agents can offer a CMA (Comparable Market Analysis) for houses in the area. This is a ball park figure. A more definitive figure is arrived at by obtaining an appraisal. A Home Market Value Appraisal gives a definitive value for the specific time frame in which the analysis was conducted. Prices range upward to $350.00 depending on the region in which you live.
Doing your own Home Market Value Appraisal is not rocket science. Investigating and doing it yourself will save you money and also give you an edge in negotiating. We suggest checking into the two options listed above (1) and (2).
If you desire to challenge your house property taxes and want to go the professional route, be prepared to open your wallet wide. Besides the appraisal fee, the appraiser will have to charge for a day's time at the municipal review. If you decide on hiring a professional mouthpiece, the attorney will not guarantee the result. You could lose the case and easily lose over a grand in the process. Again, we suggest checking into the two options listed above (1) and (2)
| Maine Home Value Demographics | Maine | USA |
Housing units, 2002 |
664,613 | 119,302,132 |
| Maine Homeownership rate, 2000 |
71.6% | 66.2% |
| Housing units in multi-unit structures, percent, 2000 | 20.3% | 26.4% |
| Median value of owner-occupied housing units, 2000 | $98,700 | $119,600 |
| Maine Households, 2000 | 518,200 | 105,480,101 |
| Persons per household, 2000 | 2.39 | 2.59 |
| Median household income, 1999 | $37,240 | $41,994 |
| Per capita money income, 1999 | $19,533 | $21,587 |
| Persons below poverty, percent, 1999 | 10.9% | 12.4% |
US Census Bureau
Maine House Value, Home Appraisal Market Value, Property Tax Appeal Comparable Sales Information
(Statisics compiled from Bureau of Economic Analysis, an agency of the U.S. Department of Commerce)
The population of Maine in 2003 was 1,309,205. Its rank was 40th in the nation. (The District of Columbia is included for ranking purposes.)
PER CAPITA PERSONAL INCOME
In 2003 Maine had a per capita personal income (PCPI) of $29,164. This PCPI ranked 29th in the United States and was 93 percent of the national average, $31,472. The 2003 PCPI reflected an increase of 3.5 percent from 2002. The 2002-2003 national change was 2.2 percent. In 1993 the PCPI of Maine was $18,639 and ranked 36th in the United States. The 1993-2003 average annual growth rate of PCPI was 4.6 percent. The average annual growth rate for the nation was 4.0 percent.
TOTAL PERSONAL INCOME
In 2003 Maine had a total personal income (TPI) of $38,181,249. This TPI ranked 40th in the United States. In 1993 the TPI of Maine was $23,155,659 and ranked 41st in the United States. The 2003 TPI reflected an increase of 4.4 percent from 2002. The 2002-2003 national change was 3.2 percent. The 1993-2003 average annual growth rate of TPI was 5.1 percent. The average annual growth rate for the nation was 5.1 percent.
Regions: Down East | Maine Atlantic Coast | Maine Highlands | North Woods | Western Maine Mountains
Largest Cities: Auburn | Augusta | Bangor | Bath | Belfast | Biddeford | Brewer | Caribou | Ellsworth | Houlton | Kittery | Lewiston | Millinocket | Old Orchard Beach | Old Town | Orono | Portland | Presque Isle | Rockland | Rumford | Saco | Sanford | South Portland | Topsham | Waterville | Westbrook
Counties: Androscoggin | Aroostook | Cumberland | Franklin | Hancock | Kennebec | Knox | Lincoln | Oxford | Penobscot | Piscataquis | Sagadahoc | Somerset | Waldo | Washington | York
Study: Relief curbed property taxes By TOM BELL, Portland Press Herald Writer
"The law passed last January calls for a four-year jump in state aid to local schools, starting with an extra $99 million this year. The initial increase boosted the total state payment from $737 million to $836 million, with most of the state's 288 school districts getting more money.
The law also capped spending increases at all levels of government and expanded the "circuit breaker" program, which provides rebates to qualified homeowners, and the homestead exemption, which reduces each home's taxable value.
The homestead exemption has jumped from the old range of $2,500, $5,000 or $7,000, depending on the value of a home, to a flat $13,000 per home.
The state's high property tax burden can be reduced "if we can just stay the course," said Michael Starn, spokesman for the Maine Municipal Association."
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Maine Property Taxes, Maine Property Tax Appeals
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