04986 Property Tax Rate

Property owners in ZIP code 04986 (Thorndike, Maine) pay a median of $2,014/year in property taxes on homes valued at $172,500. This translates to an effective tax rate of 1.17%, which is 13% above the Maine state average of 1.04%.

The monthly property tax burden for a median-valued home in 04986 is approximately $168, which factors into escrow payments on mortgages. This ZIP code is located within Waldo County. This is $540 less than the Maine average of $2,554/year.

Compared to similar ZIP codes in Maine, 04986 has lower property taxes. ZIP codes with similar effective rates include 04419 (1.16%) and 04426 (1.17%).

In Thorndike, property taxes represent approximately 2.9% of the median household income of $69,375, 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.