Otisfield, Oxford County, Maine Property Taxes
Median Otisfield, ME effective property tax rate: 1.62%, significantly higher than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median Otisfield, ME home value: $113,445
Median annual Otisfield, ME tax bill: $1,838, $562 lower than the national median property tax bill of $2,400.
How are property taxes in Oxford calculated?
Property taxes in Otisfield, 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 Otisfield’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Otisfield, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Otisfield, Oxford County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.62%
Estimate Property Tax Bill
$1,838
$1,705
Property Tax Rates Across Otisfield, Oxford 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 Otisfield, located in Oxford County, Maine, property tax rates are a reflection of this process. The effective property tax rate here stands at 1.62%, which is significantly higher than the national median property tax rate of 1.02%. This means residents in Otisfield pay more compared to the national average. However, when compared to the state median, Otisfield's rate is on par, indicating a consistent approach across Maine.
Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively. By appealing property taxes or seeking exemptions, residents can potentially reduce their tax burden. Comparing Otisfield’s effective property tax rate to other cities in Maine and the U.S. can provide valuable insights for homeowners.
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 Otisfield Tax Rate
1.62%
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 Oxford County Tax Rate
1.50%
Median Effective Maine Tax Rate
1.57%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Otisfield, Oxford County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04270 | 1.62% | 1.62% | 1.62% | 1.62% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Otisfield, Oxford County, Maine
When examining property taxes in Otisfield, 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 Oxford 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 Oxford 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 Otisfield.
For example, the median home price in Otisfield is $113,445, with tax bills ranging significantly across the county. Zip code 04270 has the highest median home price at $113,445.
Property Tax Assessment Values Across Otisfield, Oxford County, Maine
Source: Ownwell
$26,046
$119,248
$212,450
Median Otisfield Market Value
$113,445
Median Oxford County Market Value
$138,018
Median Maine Market Value
$204,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Otisfield, Oxford County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04270 | $66,082 | $87,122 | $113,445 | $148,676 | $217,740 |
Source: Ownwell
Property Tax Bills Across Otisfield, Oxford County, Maine
In Otisfield, located in Oxford County, ME, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in this area is $113,445, which influences the overall tax bill. Homeowners in Otisfield experience a median property tax bill of approximately $1,838, which is lower than the national median property tax bill of $2,400. Tax bills can vary significantly, with the 25th percentile at $1,411 and the 90th percentile reaching up to $3,528. These variations are influenced by factors such as property size, location, and any applicable exemptions.
For homeowners, understanding these factors is crucial as it directly impacts their annual expenses. Ownwell offers valuable assistance by identifying potential savings through property tax appeals and exemptions. By analyzing individual property assessments and comparing them to similar properties, Ownwell helps homeowners in Otisfield potentially reduce their tax burdens, ensuring they only pay their fair share. This service can be a significant financial relief for many, allowing for better financial planning and savings.
Median Otisfield Tax Bill
$1,838
Median Oxford County Tax Bill
$2,200
Median Maine Tax Bill
$3,200
Median United States Tax Bill
$2,400
Property Tax Bills Across Otisfield, Oxford County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04270 | $1,070 | $1,411 | $1,838 | $2,408 | $3,528 |
Source: Ownwell