Hope, Knox County, Maine Property Taxes

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

Median HOPE, ME effective property tax rate: 1.71%, significantly higher than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median HOPE, ME home value: $207,050
Median annual HOPE, ME tax bill: $3,554, $1,154 higher than the national median property tax bill of $2,400.

How are property taxes in Knox calculated?

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

Last Updated March 1, 2025

Hope, Knox County, Maine Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.71%

Estimate Property Tax Bill

$3,541

$3,286

Ownwell’s Hope Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hope with just two data points. By entering your property's estimated assessed value, our calculator applies Hope’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Knox 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 Knox County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hope, Knox County, Maine

Local government entities set tax rates, which can vary widely within a state. Annually, 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. Below, you can compare Hope’s effective property tax rate to other cities in Maine and the median property tax rates in Maine and the U.S.

Property Tax Rates Across Hope, Knox County, Maine

Source: Ownwell

1.01%

1.72%

2.43%

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 Hope Tax Rate

1.71%

Median Effective Knox County Tax Rate

1.55%

Median Effective Maine Tax Rate

1.57%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hope, Knox County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
04847	1.71%	1.71%	1.71%	1.72%	1.72%

Source: Ownwell

Property Tax Assessment Values Across Hope, Knox County, Maine

When examining property taxes in Hope, 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 Knox 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.

In Knox 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 Hope.

For example, the median home price in Hope is $207,050, with tax bills ranging significantly across the county. Zip code 04847 has the highest median home price at $207,050.

Property Tax Assessment Values Across Hope, Knox County, Maine

Source: Ownwell

$159,200

$280,900

$402,600

Median Hope Market Value

$207,050

Median Knox County Market Value

$198,500

Median Maine Market Value

$204,200

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hope, Knox County, Maine

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
04847	$103,810	$153,075	$207,050	$276,050	$362,000

Source: Ownwell

Property Tax Bills Across Hope, Knox County, Maine

In Hope, located in Knox County, ME, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The median home price in Hope is $207,050, and homeowners face a property tax bill that can vary significantly. At the 25th percentile, the tax bill is $2,625, while it rises to $4,734 at the 75th percentile and can reach $6,206 at the 90th percentile. The property tax rate in this area is notably higher than the national median rate of 1.02%, reflecting the region's unique valuation standards. This can place a substantial financial burden on homeowners, especially when compared to the national median property tax bill of $2,400. Ownwell offers a solution for homeowners seeking to reduce their property tax obligations. By providing expert property tax appeal and exemption services, Ownwell helps homeowners challenge their assessments and potentially lower their tax bills, ensuring they pay only what is fair and equitable.

Property Tax Bills Across Hope, Knox County, Maine

Source: Ownwell

$2,132

$3,725

$5,317

Median Hope Tax Bill

$3,554

Median Knox County Tax Bill

$3,340

Median Maine Tax Bill

$3,200

Median United States Tax Bill

$2,400

Property Tax Bills Across Hope, Knox County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
04847	$1,780	$2,625	$3,554	$4,734	$6,206

Source: Ownwell