Rockwood, Somerset County, Maine Property Taxes

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

Median Rockwood, ME effective property tax rate: 0.76%, significantly lower than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median Rockwood, ME home value: $200,530
Median annual Rockwood, ME tax bill: $1,535, $865 lower than the national median property tax bill of $2,400.

How are property taxes in Somerset calculated?

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

Last Updated March 1, 2025

Rockwood, Somerset County, Maine Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.76%

Estimate Property Tax Bill

$1,524

$1,414

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

Property Tax Rates Across Rockwood, Somerset County, Maine

Local government entities determine tax rates, which can differ significantly within a state. This variation is due to each county's annual estimation of its required budget for services, which is then divided by the total value of all taxable property within its jurisdiction. This process results in the property tax rate. Though votes and laws play a role in setting tax rates and budgets, this is the core of the annual procedure.

In Rockwood, located in Somerset County, the effective property tax rate is a key point of comparison to other cities in Maine and the broader national landscape. While Maine’s median property tax rate is below the national median, Rockwood’s rate provides a more localized perspective. Understanding these differences can be crucial for property owners in planning and financial management. Comparing these rates helps illuminate how Rockwood stands in relation to other areas, both within the state and across the country. By evaluating these variations, property owners can gain a clearer picture of their financial obligations and potential savings.

Property Tax Rates Across Rockwood, Somerset County, Maine

Source: Ownwell

0.47%

1.46%

2.44%

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 Rockwood Tax Rate

0.76%

Median Effective Somerset County Tax Rate

1.77%

Median Effective Maine Tax Rate

1.57%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Rockwood, Somerset County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
04478	0.76%	0.76%	0.76%	0.76%	0.81%

Source: Ownwell

Property Tax Assessment Values Across Rockwood, Somerset County, Maine

When examining property taxes in Rockwood, Maine, 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 Somerset 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 Somerset 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 Rockwood. For example, the median home price in Rockwood is $200,530, with tax bills ranging significantly across the county. Zip code 04478 has the highest median home price at $200,530.

Property Tax Assessment Values Across Rockwood, Somerset County, Maine

Source: Ownwell

$74,500

$182,040

$289,580

Median Rockwood Market Value

$200,530

Median Somerset County Market Value

$105,900

Median Maine Market Value

$204,200

Median United States Market Value

$235,294

Property Tax Assessment Values Across Rockwood, Somerset County, Maine

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
04478	$95,070	$149,320	$200,530	$299,325	$524,907

Source: Ownwell

Property Tax Bills Across Rockwood, Somerset County, Maine

In Rockwood, Somerset County, ME, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimation of the property's market value, reflecting factors such as location, size, and condition. The median home price in Rockwood is $200,530, which influences the tax calculations. The property tax bill can range significantly, with the 25th percentile at $1,153 and the 90th percentile reaching $4,005. The median tax bill in the area is $1,535, which is below the national median of $2,400. This means that homeowners in Rockwood generally pay less compared to the national average. However, even with a lower median tax rate, property taxes can still be a significant annual expense for homeowners. Ownwell assists homeowners by reviewing their property assessments and identifying potential discrepancies or opportunities for exemptions. By appealing inaccurate assessments, Ownwell can help reduce tax liabilities, ensuring homeowners only pay their fair share.

Property Tax Bills Across Rockwood, Somerset County, Maine

Source: Ownwell

$420

$1,359

$2,297

Median Rockwood Tax Bill

$1,535

Median Somerset County Tax Bill

$1,837

Median Maine Tax Bill

$3,200

Median United States Tax Bill

$2,400

Property Tax Bills Across Rockwood, Somerset County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
04478	$740	$1,153	$1,535	$2,292	$4,005

Source: Ownwell