|
Tax Capacity (Net
<br />Tax Capacity Rate
<br />Net City Tax
<br />$ Change from 2(
<br />% Change from 2
<br />Effect of 2026 Tax Levy & Budget on Residential Properties
<br />Median 5.06% Increase in Market Value
<br />Actual
<br />Estimated
<br />Actual
<br />Estimated
<br />Actual
<br />Estimated
<br />Actual
<br />Estimated
<br />Actual
<br />Estimated
<br />2025
<br />2026
<br />2025
<br />2026
<br />2025
<br />2026
<br />2025
<br />2026
<br />2025
<br />2026
<br />Value
<br />$250,000
<br />$262,650
<br />$500,000
<br />$525,300
<br />$1,110,400
<br />$1,166,586
<br />$2,000,000
<br />$2,101,200
<br />$4,000,000
<br />$4,202,400
<br />Market Value Exclusion (MVE) *
<br />$24,050
<br />$22,912
<br />$1,550
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />$0
<br />Tax Value
<br />$225,950
<br />$239,739
<br />$498,450
<br />$525,300
<br />$1,110,400
<br />$1,166,586
<br />$2,000,000
<br />$2,101,200
<br />$4,000,000
<br />$4,202,400
<br />**
<br />2,260
<br />2,397
<br />4,985
<br />5,316
<br />12,630
<br />13,332
<br />23,750
<br />25,015
<br />48,750
<br />51,280
<br />16.361%
<br />16.797%
<br />16.361%
<br />16.797%
<br />16.361%
<br />16.797%
<br />16.361%
<br />16.797%
<br />16.361%
<br />16.797%
<br />$369.67
<br />$402.70
<br />$815.50
<br />$892.98
<br />$2,066.37
<br />$2,239.47
<br />$3,885.69
<br />$4,201.84
<br />$7,975.89
<br />$8,613.64
<br />125
<br />$33.02
<br />$77.48
<br />$173.10
<br />$316.15
<br />$637.75
<br />)25
<br />8.93%
<br />9.50%
<br />8.38%
<br />8.14%
<br />8.00%
<br />As of 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
<br />minus 9% of the value over $95,000. Homesteads valued at $517,200 or more do not receive the exclusion
<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 2025 is $1,110,400.
<br />
|