04090 Property Tax Rate

Property owners in ZIP code 04090 (Wells, Maine) pay a median of $2,991/year in property taxes on homes valued at $445,800. This translates to an effective tax rate of 0.67%, which is 35% below the Maine state average of 1.04%.

The monthly property tax burden for a median-valued home in 04090 is approximately $249, which factors into escrow payments on mortgages. This ZIP code is located within York County. This is $437 more than the Maine average of $2,554/year.

Compared to similar ZIP codes in Maine, 04090 has higher property taxes. ZIP codes with similar effective rates include 04548 (0.67%) and 04964 (0.67%).

In Wells, property taxes represent approximately 3.6% of the median household income of $83,900, 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.