04042 Property Tax Rate

Property owners in ZIP code 04042 (Hollis Center, Maine) pay a median of $2,651/year in property taxes on homes valued at $306,900. This translates to an effective tax rate of 0.86%, which is 17% below the Maine state average of 1.04%.

The monthly property tax burden for a median-valued home in 04042 is approximately $221, which factors into escrow payments on mortgages. This ZIP code is located within York County.

Compared to similar ZIP codes in Maine, 04042 has higher property taxes. ZIP codes with similar effective rates include 04481 (0.86%) and 04783 (0.87%).

In Hollis Center, property taxes represent approximately 3.3% of the median household income of $81,250, providing context for the relative tax burden on homeowners in this area.

Maine has no statewide property tax cap; York County reassesses at market value, and your tax bill will reflect the current fair market value of your home at purchase. Apply for the Maine Homestead Property Tax Exemption ($7,500 off assessed value for primary residences) with the York County Assessor's office before April 1 of the tax year following your purchase. Request your property's assessment card from the assessor and confirm whether your municipality conducts revaluations on a cyclical schedule (typically 5 or 10 years), as a revaluation could significantly increase your assessed value.