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Actual Estimated Actual Estimated Actual Estimated Actual Estimated
<br />2024 2025 2024 2025 2024 2025 2024 2025
<br />Value $250,000 $256,500 $500,000 $513,000 $1,056,900 $1,084,379 $2,000,000 $2,052,000
<br />Market Value Exclusion (MVE) * $14,740 $14,155 $0 $0 $0
<br />Tax Value $235,260 $242,345 $500,000 $513,000 $1,056,900 $1,084,379 $2,000,000 $2,052,000
<br />2,353 2,423 5,000 5,163 11,961 12,305 23,750 24,400
<br />16.349% 16.349% 16.349% 16.349% 16.349% 16.349% 16.349% 16.349%
<br />$384.63 $396.21 $817.45 $844.02 $1,955.54 $2,011.70 $3,882.89 $3,989.16
<br />$11.58 $26.57 $56.16 $106.27
<br />3.01% 3.25% 2.87% 2.74%
<br />
<br />** Tax Capacity (net) = 1% of first $500,000 market value, plus 1.25% of all value over $500,000
<br />The Market Value adjustment is based on the average market value increase on a residential property = XX%
<br />Median home value in Orono in 2024 is $1,056,900.
<br />* Market Value Exclusion = First 40% of the first $76,000 of market value. For homestead value between $76,000 and $413,800, the exclusion is $30,400 minus 9%
<br />of the value over $76,000. Homesteads valued at $413,800 or more do not receive the exclusion
<br />Tax Capacity (Net) **
<br />Effect of 2025 Tax Levy & Budget on Residential Properties
<br />Median 2.6% Increase in Market Value
<br />Tax Capacity Rate
<br />Net City Tax
<br />$ Increase from 2024
<br />% Increase from 2024
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