04974 Property Tax Rate

Property owners in ZIP code 04974 (Searsport, Maine) pay a median of $2,256/year in property taxes on homes valued at $242,200. This translates to an effective tax rate of 0.93%, which is 10% below the Maine state average of 1.04%.

The monthly property tax burden for a median-valued home in 04974 is approximately $188, which factors into escrow payments on mortgages. This ZIP code is located within Waldo County. This is $298 less than the Maine average of $2,554/year.

Compared to similar ZIP codes in Maine, 04974 has lower property taxes. ZIP codes with similar effective rates include 04237 (0.93%) and 04655 (0.93%).

In Searsport, property taxes represent approximately 3.7% of the median household income of $61,283, 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 Waldo 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 Waldo County Assessor's office by April 1 of the year following purchase. Contact the Waldo County Assessor immediately after closing to confirm your filing deadline and receive your Notice of Valuation.