Example of Oxford County Property Tax Calculation
When calculating property tax in Oxford County, the local government determines the assessed value of the property in question. This assessed value is then subject to a millage rate, which is used to calculate the property tax owed by the owner.
For example, let's say a property in Oxford County has an assessed value of $100,000 and the millage rate is 10 mills. To calculate the property tax owed, you would multiply the assessed value by the millage rate, then divide by 1,000.
Using this formula, the property tax owed by the owner would be $1,000 each year (100,000 x 10 / 1,000 = $1,000).
It's important to keep in mind that millage rates can vary from year to year, and different types of properties may have different millage rates. Additionally, there may be exemptions or deductions available for certain property owners, such as senior citizens or veterans.
Overall, calculating property tax in Oxford County is a straightforward process based on the property's assessed value and the current millage rate.
If you want appeal your property tax assessment - contact your local tax assessor.
Oxford County Property Tax Rates
Here is a table of Oxford County Property Tax rates:
|Rate per $100 of Assessed Value
|County Waste Management
|Municipal Waste Management
These rates are effective for the 2021 tax year and may be subject to change in future years. Property owners in Oxford County should keep these rates in mind when budgeting for their annual property tax payments.
Who sets property tax rates in Oxford County ?
Who sets property tax rates in Oxford County?
The property tax rates in Oxford County are set by the Oxford County Board of Commissioners. They decide how much property owners in the county will be required to pay in taxes each year. The Board of Commissioners is made up of elected officials who are responsible for managing the county's finances and making decisions about taxes and other important issues.
When are property tax rates set in Oxford County?
Property tax rates in Oxford County are typically set in the late summer or early fall of each year. The Board of Commissioners holds public hearings to discuss the proposed tax rates and to hear feedback from residents and property owners. After considering all of the feedback and other relevant factors, the Board of Commissioners makes a final decision on the tax rates for the upcoming year.
How are property tax rates in Oxford County calculated?
Property tax rates in Oxford County are based on the assessed value of the property. The county tax assessor determines the value of each property within the county, and this value is used to calculate the amount of taxes that the owner will owe. The tax rate itself is expressed as a percentage of the assessed value of the property. For example, if the tax rate is 2% and the assessed value of a property is $100,000, the property owner would owe $2,000 in taxes for the year.
When is Oxford County Property Tax due ?
Oxford County Property Tax is typically due on June 1st of each year. However, if this date falls on a weekend or holiday, the due date is extended to the next business day. Property owners may use various payment methods to pay their property taxes, including online payments, in-person payments, or by mail.
|Property owners can pay their property taxes online through the Oxford County website using a credit card, debit card, or e-check.
|Property owners can pay their property taxes in person at the Oxford County Finance Office located at 26 Western Avenue in South Paris, Maine.
|Property owners can also mail in their property tax payments along with a check or money order to the Oxford County Finance Office at P.O. Box 179, South Paris, ME 04281.
It is important to note that property owners who do not pay their property taxes by the due date may face penalties and interest charges. Therefore, it is recommended that property owners make payments in a timely manner to avoid any additional fees.
If you have more questions - contact your local tax collector.
Homestead exemptions in Oxford County ?
To help homeowners in Oxford County, Maine understand their eligibility for Homestead exemptions and deductions, the following table outlines key information.
|Owner-occupied primary residence
|Up to $25,000
|Must file application by April 1st
|Honorably discharged veteran or spouse
|Must provide DD-214 or other proof of service
|Legally blind individual
|Must provide certification from physician
|Unmarried surviving spouse
|Must not have remarried
|Farm Equipment Exemption
|Owner of farmland with equipment
|Must provide documentation of ownership and use
It is important to note that these exemptions and deductions apply specifically to Oxford County, Maine. Homeowners in other counties or states may have different eligibility requirements and amounts. Homeowners interested in claiming these exemptions and deductions should contact their local tax assessor's office for more information and assistance with the application process.
How is Oxford County Property Tax penalty calculated ?
Oxford County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, they may be subject to penalties. In Oxford County, Maine, the penalty calculation for late property tax payments is as follows:
- First month - a penalty of 2% of the unpaid tax amount
- Second month - a penalty of an additional 1% of the unpaid tax amount, plus interest at a rate of 1% per month
- Third month and beyond - a penalty of an additional 1% of the unpaid tax amount, plus interest at a rate of 1.5% per month
Let's say a property owner in Oxford County has an annual property tax bill of $2,000. If they fail to pay by the due date, the penalty calculation would be as follows:
- First month penalty: 2% of $2,000 = $40 penalty
- Second month penalty: 1% of $2,000 + 1% interest = $20 penalty + $20 interest
- Third month penalty: 1% of $2,000 + 1.5% interest = $20 penalty + $30 interest
This means that if the property owner doesn't pay their property taxes until the third month, they will owe a total of $2,110 ($2,000 in taxes + $110 in penalties and interest).
It's important for property owners to make sure they pay their property taxes on time to avoid these penalties and additional costs. If you have any questions about property taxes in Oxford County, reach out to your local tax assessor's office for more information.
We recommend contacting the Oxford County Tax Office or a local tax professional for the most up-to-date and accurate information.