Castine, Hancock County, Maine Property Taxes

Name: Property Tax Bills Across Castine, Hancock County, Maine
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Castine, ME effective property tax rate: 1.30%, significantly higher than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median Castine, ME home value: $309,850
Median annual Castine, ME tax bill: $4,028, $1,628 higher than the national median property tax bill of $2,400.

How are property taxes in Hancock calculated?

Property taxes in Castine, ME are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Castine’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Castine, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Castine, Hancock County, Maine Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.3%

Estimate Property Tax Bill

$4,028

$3,738

Ownwell’s Castine Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Castine with just two data points. By entering your property's estimated assessed value, our calculator applies Castine’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Hancock County — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Hancock County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Castine, Hancock County, Maine

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In Castine, located in Hancock County, the effective property tax rate stands at 1.30%. This rate is notably higher than the national median property tax rate of 1.02%. The higher rate reflects the specific budgetary needs and property values within the region. Understanding how these rates compare can offer valuable insights for property owners considering an appeal or seeking exemptions. By comparing Castine's rate to the national median, property owners can better assess their tax liabilities and explore potential savings.

Property Tax Rates Across Castine, Hancock County, Maine

Source: Ownwell

0.37%

1.27%

2.17%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Castine Tax Rate

1.30%

Median Effective Hancock County Tax Rate

1.23%

Median Effective Maine Tax Rate

1.57%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Castine, Hancock County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
04421	1.30%	1.30%	1.30%	1.30%	1.30%
04420	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Castine, Hancock County, Maine

When examining property taxes in Castine, ME, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Hancock County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Hancock County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Castine. For example, the median home price in Castine is $309,850, with tax bills ranging significantly across the county. 04421 has the highest median home price at $307,200.

Property Tax Assessment Values Across Castine, Hancock County, Maine

Source: Ownwell

$67,000

$311,200

$555,400

Median Castine Market Value

$309,850

Median Hancock County Market Value

$205,850

Median Maine Market Value

$204,200

Median United States Market Value

$235,294

Property Tax Assessment Values Across Castine, Hancock County, Maine

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
04421	$138,760	$193,750	$307,200	$472,350	$709,880
04420	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Castine, Hancock County, Maine

In Castine, located in Hancock County, ME, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. This means a property valued at the median home price of $309,850 would typically face a tax bill around $3,994 annually. This is considerably higher than the national median property tax bill of $2,400, reflecting the local tax rate's impact on homeowners. Factors influencing these bills include the property's assessed value, which is determined by local assessors, and the tax rate set by local government to meet budgetary needs. Homeowners in Castine can face significant financial burdens due to these rates, with tax bills ranging from $2,520 at the 25th percentile to $9,296 at the 90th percentile. Ownwell offers valuable assistance by identifying potential savings through property tax appeals and exemptions, ensuring homeowners only pay their fair share. By leveraging expertise and local knowledge, Ownwell can help reduce the property tax burden, providing relief and potential savings for homeowners.

Property Tax Bills Across Castine, Hancock County, Maine

Source: Ownwell

$317

$2,580

$4,843

Median Castine Tax Bill

$4,028

Median Hancock County Tax Bill

$2,609

Median Maine Tax Bill

$3,200

Median United States Tax Bill

$2,400

Property Tax Bills Across Castine, Hancock County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
04421	$1,804	$2,519	$3,994	$6,141	$9,229
04420	N/A	N/A	N/A	N/A	N/A

Source: Ownwell