Maine is one big state with lots of land, acreage and less people to populate it.
So more wildlife, great amounts of unspoiled four season wide open country is what you find in abundance in Maine. If you are toying with owning some land in Maine, many questions come up needing answering, attention. Maybe waterfront property, a hobby farm for full time or second home vacation use. Regardless of the Maine land application to your individual needs, here are some helpful ME land buying resources to tap in to before, after your real estate purchase.
In the case of Maine waterfront real estate, ME shoreland zoning statutes, regulations, do’s and don’t around our lakes, ponds, rivers, streams and oceanfront come in pretty handy.
Maine’s tree growth tax laws also another property tax reducer that requires study, understanding. If you buy property in Maine that is in the ME tree growth program, and you want to remove it there is a severe penalty to deal with. Don’t wish someone had told you about Maine’s tree growth program after you bought the property you want to build on and none of the land was kept out for that purpose.
Taxes, and how a Maine town arrives at property valuations for each piece of ME real estate is another common query in our day to day job peddling real estate. Maine local municipalities assess taxes on property, setting their own tax rate. This mil rate per thousand dollars of property valuation is based on the revenue requirements for the town to keep roads plowed, pot holes filled, police, fire, schools running smoothly.
If the Maine town’s mil rate in Houlton Maine for example is 19.5, then $19.50 for every $1,000 of a property’s assessed value is taxed in the property tax bill sent out yearly.
Bangor Maine sends a property tax bill out twice a year to soften the blow, impact.
Some Maine towns, cities more efficiently run than others and county seats, the sixteen of them in Vacationland are historically higher tax bill size wise. Why? More services provided at the center, transportation and population hub of the area. More tax exempt government buildings, churches, public institutions.
The Maine land you buy if rural, not served by muncipal water and sewer should be soil tested for a septic BEFORE you purchase. Especially around a lake, when the Maine land is small acreage wise and congested with closer proximity neighbors. Have worked with a Bill Hersey, A Caribou Maine native soil tester for over thirty years who is thorough, practical and a good steward of the land. His business card says “like people, Maine soils are different”. The design for a ME soil test can cost in the neighborhood of $300 and provides the HHE 200 paperwork the state of Maine requires to use as the blueprint for your ME septic system.
Just a few points but by no means an end all list of what to consider, look for when buying Maine land. The title to Maine land is critical and make sure to have a ME attorney, lawyer title search the real estate for you.