Maine Property Tax Calculator
Calculate property taxes in Maine. ME effective property tax rate is 1.24% with a median home value of $320,000. Includes ME assessment ratios and exemptions.
Maine at a Glance
$320,000
Median Home Price
1.24%
Property Tax Rate
$1,200
Avg Home Insurance
$472,030
FHA Loan Limit
Loading calculator
Preparing Maine Property Tax Calculator...
Reviewed & Methodology
Every calculator is built using industry-standard formulas, validated against authoritative sources, and reviewed by a credentialed financial professional. State-specific data is sourced from official government publications.
Property Tax Calculator in Maine
The median home price in Maine is $320,000, which is 24% below the national average of $420,000. Maine's effective property tax rate of 1.24% is 0.14 percentage points higher than the national average of 1.1%.
| Metric | Maine (ME) | National Avg | vs National Average |
|---|---|---|---|
| Median Home Price | $320,000 | $420,000 | -24% |
| Property Tax Rate | 1.24% | 1.1% | +0.14% |
| Home Insurance (Annual) | $1,200 | $2,300 | -48% |
| State Sales Tax | 5.5% | 5% | +0.5% |
| FHA Loan Limit | $472,030 | $472,030 | Standard |
| Conforming Loan Limit | $766,550 | $766,550 | Standard |
Maine offers a homestead exemption of $25,000, which reduces the taxable value of your primary residence. The state uses an assessment ratio of 100% to determine the assessed value for property tax purposes.
Homeownership in Maine
Maine's housing market was transformed by the pandemic as remote workers fled Boston, New York, and other metros for more space and natural beauty. The statewide median has risen to around $320,000, roughly doubling from pre-2020 levels in many areas. Portland and its surrounding towns now see prices competitive with mid-size metros in much warmer states. The state's property tax rate of 1.24% is moderate, but heating costs in a cold climate add meaningfully to total ownership costs.
Tips for Maine Homebuyers and Homeowners
- Maine's Property Tax Fairness Credit refunds up to $1,500 (or $1,000 for renters) to low-to-moderate income homeowners whose property taxes exceed 4-6% of their Maine adjusted gross income.
- The Homestead Exemption reduces assessed value by $25,000 for primary residences -- apply through your municipal assessor by April 1 of your first year.
- Heating costs in Maine are substantial -- homes heated by oil can spend $3,000-$5,000 per year; heat pumps (heavily subsidized by Efficiency Maine) are increasingly the cost-effective choice and add value at resale.
- Maine has no sales tax on groceries or clothing, but the overall tax burden including income taxes (graduated up to 7.15%) is significant -- model out your total state tax burden before relocating.
Maine Programs and Assistance
- Maine State Housing Authority (MaineHousing) First Home Loan Program -- competitive fixed-rate mortgages for first-time buyers, with income and purchase price limits that adjust for county.
- Advantage Down Payment and Closing Cost Assistance -- a $5,000 zero-interest second loan available to buyers using MaineHousing first mortgages.
- Maine Rural Home Loan -- USDA-style product targeted at buyers in rural Maine communities with broader geographic eligibility than some programs.
Did you know? Maine's Efficiency Maine program has offered some of the most generous heat pump rebates in the country -- up to $4,000 for a cold-climate heat pump -- helping homeowners cut heating oil dependency and reduce ongoing ownership costs.