Florida vs Maine
Property‑Tax Comparison: Florida vs. Maine
Intro
Both Florida and Maine levy local property taxes that fund schools, public safety, and infrastructure. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Florida’s effective property‑tax rate is lower than Maine’s, which results in smaller annual tax bills for comparable home values. The following sections present the data side‑by‑side, identify which state has the lower rate, and indicate the homeowner groups that may benefit most from the differences.
Side‑by‑Side Metrics
| Metric | Florida | Maine |
|---|---|---|
| Effective property‑tax rate | 0.79 % | 1.10 % |
| Median home value | $325,000 | $266,400 |
| Median annual property tax | $2,555 | $2,926 |
| Tax on a $250,000 home | $1,966 | $2,746 |
| Tax on a $500,000 home | $3,931 | $5,492 |
| Median household income | $71,711 | $71,773 |
Sources: “According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).”
Who Wins the Tax‑Rate Contest?
Winner (lower tax rate): Florida
- Rate difference: 0.31 percentage points (Florida 0.79 % vs. Maine 1.10 %).
- Relative difference: Approximately 28.4 % lower than Maine’s rate.
- Annual tax difference on a $250,000 home: $780 less in Florida ($1,966 vs. $2,746).
- Annual tax difference on a $500,000 home: $1,561 less in Florida ($3,931 vs. $5,492).
Why Florida wins: The lower effective tax rate directly reduces the amount of tax levied per dollar of assessed value. Even though Florida’s median home value is higher, the lower rate keeps the median annual property tax ($2,555) below Maine’s median ($2,926).
For further details on each state’s property‑tax framework, see the internal articles:
Which Homeowners Are Most Affected?
| Audience | Impact of the Difference |
|---|---|
| Current homeowners | Those who own homes valued around $250 k–$500 k will see lower yearly tax bills in Florida, saving $780–$1,561 compared with Maine. |
| Prospective homebuyers | Buyers evaluating affordability should factor the lower tax rate in Florida, especially if purchasing higher‑priced homes where the dollar savings increase. |
| Retirees on fixed incomes | Because property taxes are a recurring expense, retirees may find Florida’s lower rates more conducive to budgeting, though other cost‑of‑living factors also apply. |
| Real‑estate investors | Investors with multiple or high‑value properties benefit from the cumulative effect of a lower rate, reducing overall tax outlays in Florida versus Maine. |
| Policy analysts | The contrast illustrates how state‑level tax structures affect local revenue generation without altering median household income (both states report similar median incomes: $71,711 vs. $71,773). |
Summary
Based on the most recent ACS estimates, Florida’s effective property‑tax rate (0.79 %) is notably lower than Maine’s (1.10 %). The lower rate translates into measurable annual savings for homeowners across typical price ranges. While both states have comparable median household incomes, the tax‑rate gap makes Florida the more tax‑advantageous option for property owners seeking lower recurring property‑tax obligations.
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Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.