Monroe, Waldo County, Maine Property Taxes

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

Median Monroe, ME effective property tax rate: 1.44%, significantly higher than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median Monroe, ME home value: $128,174
Median annual Monroe, ME tax bill: $1,846, $554 lower than the national median property tax bill of $2,400.

How are property taxes in Waldo calculated?

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

Last Updated March 1, 2025

Monroe, Waldo County, Maine Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.44%

Estimate Property Tax Bill

$1,846

$1,713

Ownwell’s Monroe Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Monroe with just two data points. By entering your property's estimated assessed value, our calculator applies Monroe’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 Waldo County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Monroe, Waldo County, Maine

Local government entities determine tax rates, which can vary significantly across different regions. This variation is primarily due to each county's annual budget estimation process. Counties calculate their required budget to provide essential services and then divide this by the total value of all taxable property within their area. This method determines the property tax rate. While various votes and legal frameworks influence these rates and budgets, this is the core annual procedure.

Monroe in Waldo County, Maine, offers an intriguing comparison point for property tax rates. Monroe’s effective property tax rate stands out when compared to other cities in Maine and the national average. The median property tax rate in Maine is higher than the national median, which can be attributed to the specific budgetary needs and property values in the region. Understanding these differences is crucial for property owners evaluating their tax obligations. By comparing Monroe’s rate with both state and national figures, property owners can gain a clearer perspective on their local tax landscape, aiding in more informed financial planning and property investment decisions.

Property Tax Rates Across Monroe, Waldo County, Maine

Source: Ownwell

1.04%

1.67%

2.30%

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 Monroe Tax Rate

1.44%

Median Effective Waldo County Tax Rate

1.74%

Median Effective Maine Tax Rate

1.57%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Monroe, Waldo County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
04951	1.44%	1.44%	1.44%	1.44%	1.44%

Source: Ownwell

Property Tax Assessment Values Across Monroe, Waldo County, Maine

When examining property taxes in Monroe, 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 Waldo 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 Waldo 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 Monroe. For example, the median home price in Monroe is $128,174, with tax bills ranging significantly across the county. Zip code 04951 has the highest median home price at $128,174.

Property Tax Assessment Values Across Monroe, Waldo County, Maine

Source: Ownwell

$14,800

$161,850

$308,900

Median Monroe Market Value

$128,174

Median Waldo County Market Value

$154,000

Median Maine Market Value

$204,200

Median United States Market Value

$235,294

Property Tax Assessment Values Across Monroe, Waldo County, Maine

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
04951	$44,548	$87,861	$128,174	$180,250	$231,402

Source: Ownwell

Property Tax Bills Across Monroe, Waldo County, Maine

In Monroe, located in Waldo County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor, who evaluates the property to estimate its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Monroe, the median home price is $128,174, and the median property tax bill is $1,846, which is below the national median property tax bill of $2,400. Homeowners in Monroe might find themselves paying anywhere from $1,265 at the 25th percentile to $3,351 at the 90th percentile. For those looking to reduce their property tax burden, Ownwell offers services to help homeowners appeal their assessments and identify potential exemptions. By leveraging expertise in local property tax laws and assessment procedures, Ownwell can assist homeowners in potentially lowering their tax bills, providing significant savings and financial relief.

Property Tax Bills Across Monroe, Waldo County, Maine

Source: Ownwell

$202

$2,025

$3,848

Median Monroe Tax Bill

$1,846

Median Waldo County Tax Bill

$2,632

Median Maine Tax Bill

$3,200

Median United States Tax Bill

$2,400

Property Tax Bills Across Monroe, Waldo County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
04951	$642	$1,265	$1,846	$2,608	$3,351

Source: Ownwell