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Maine Property Tax

Maine Property Tax is the largest source of revenue generation to fund services rendered by the local government for public welfare. As per the statistics, the property taxes in Maine comprise the largest share of about 44%. in total revenue generation in the state. ME Property Taxes are levied and collected at local level and the state agency, like the Property Tax Division of the Maine Department of Administrative and Financial Services plays a regulatory role.

Maine Property Tax Laws

The real property in Maine consists of land, house, buildings and structures. According to the Maine Property Tax Laws, the assessment of all real property should be performed at its "just value", which is nothing but the selling value of your property in an open and free market. The assessment is done at local level by local assessors. There are three methods to assess the value of property and one, two or all of these may be utilized by your assessor to estimate the market price of your property.

ME Property Tax Rates

The assessed value of your property then becomes the base for the calculation of Property Taxes in Maine. The assessed value is processed with the Maine Property Tax Rate, which is in the form of a mill rate, to calculate the tax bill for your property. The Maine Property Tax Rate is determined by the legislative body of the municipality by taking into account the fund required for the various municipal services.

Although all owners of real property are required to pay real estate taxes in Maine, there are exemptions for some categories of homeowners. Some residents in Maine can even receive a property tax refund, which is subject to fulfillment of some criteria laid out by the Property Tax Division. For a complete account of Maine Property Tax Relief, visit the official site of the state government.



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