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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 $23,465 $0 $380 $0 $0 $0 $0
<br />Tax Value $235,260 $233,035 $500,000 $512,620 $1,056,900 $1,084,379 $2,000,000 $2,052,000
<br />2,353 2,330 5,000 5,158 11,961 12,305 23,750 24,400
<br />16.349% 16.350% 16.349% 16.350% 16.349% 16.350% 16.349% 16.350%
<br />$384.63 $381.01 $817.45 $843.29 $1,955.54 $2,011.83 $3,882.89 $3,989.40
<br />-$3.61 $25.84 $56.28 $106.51
<br />-0.94%3.16%2.88%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 />* 2024 and Prior 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
<br />$30,400 minus 9% of the value over $76,000. Homesteads valued at $413,800 or more do not receive the exclusion
<br /> 2025 Market Value Exclusion = First 40% of the first $95,000 of market value. For homestead value between $95,000 and $517,200, the exclusion is $38,000 minus
<br />9% of the value over $95,000. Homesteads valued at $517,200 or more do not receive the exclusion
<br />Tax Capacity (Net) **
<br />Effect of 2025 Tax Levy & Budget on Residential Properties
<br />Median 2.6% Increase in Market Value
<br />Tax Capacity Rate
<br />Net City Tax
<br />$ Change from 2024
<br />% Change from 2024
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