04863 Property Tax Rate

Property owners in ZIP code 04863 (Vinalhaven, Maine) pay a median of $3,856/year in property taxes on homes valued at $435,500. This translates to an effective tax rate of 0.89%, which is 15% below the Maine state average of 1.04%.

The monthly property tax burden for a median-valued home in 04863 is approximately $321, which factors into escrow payments on mortgages. This ZIP code is located within Knox County. This is $1,302 more than the Maine average of $2,554/year.

Compared to similar ZIP codes in Maine, 04863 has higher property taxes. ZIP codes with similar effective rates include 04650 (0.89%) and 04987 (0.88%).

In Vinalhaven, property taxes represent approximately 5.3% of the median household income of $72,262, providing context for the relative tax burden on homeowners in this area.

Maine has no statewide property tax cap — your assessment resets to market value at purchase, and the Knox County Assessor will establish a new base for annual increases. The Maine Homestead Property Tax Exemption exempts $25,000 of assessed value from state and local property taxes; file with the Knox County Assessor's office by April 1 of the year following purchase. Contact the Knox County Assessor immediately after closing to confirm your filing deadline and obtain your Notice of Valuation.