Lisbon Falls, Maine Property Taxes
The median property tax rate in Lisbon Falls, ME is 2.31%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Lisbon Falls at $147,800, the typical annual property tax bill reaches $3,414, exceeding the national median of $2,690. Property taxes in Lisbon Falls are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lisbon Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lisbon Falls or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lisbon Falls, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$3,414
Ownwell’s Lisbon Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lisbon Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lisbon Falls to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lisbon Falls, Maine
Property taxes in Lisbon Falls, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisbon Falls is 2.31%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Lisbon Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lisbon Falls estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lisbon Falls's effective property tax rate to other counties in Maine and the national median. For comparison, the 04252 zip code has the highest median property tax rate of 2.31%, while the 04252 zip code also has the lowest median tax rate of 2.31%. Understanding how these rates compare with Lisbon Falls provides valuable insights into the varying tax landscape across Androscoggin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lisbon Falls Tax Rate
2.31%
Average Androscoggin County Tax Rate
2.28%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lisbon Falls, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04252 | 2.31% | 2.31% | 2.31% | 2.31% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Lisbon Falls, Maine
In Lisbon Falls, Maine, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Androscoggin County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lisbon Falls, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lisbon Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $147,800, with the highest and lowest median tax bills both recorded at $3,414 in the 04252 zip code.
Average Lisbon Falls Assessed Value
$147,800
Average Androscoggin County Assessed Value
$134,490
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lisbon Falls, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04252 | $90,600 | $126,975 | $147,800 | $176,000 | $220,400 |
Source: Ownwell
Property Tax Bills Across Lisbon Falls, Maine
In Lisbon Falls, located in Androscoggin County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in this area can expect their property tax rate to be notably higher than the national median property tax rate of 0.99%. Factors influencing the tax bill include the assessed value of the property, which is influenced by the market value and any improvements made to the home. For instance, with a median home price of $147,800, homeowners can anticipate a median tax bill around $3,414. This amount can vary significantly, with tax bills ranging from $2,930 at the 25th percentile to $5,092 at the 90th percentile. Higher property taxes can impact homeowners by increasing their annual expenses, potentially affecting their overall financial planning. Understanding how these factors come together helps homeowners in Lisbon Falls better prepare for their property tax obligations and manage their budgets effectively.
Average Lisbon Falls Tax Bill
$3,414
Average Androscoggin County Tax Bill
$3,060
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Lisbon Falls, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04252 | $2,093 | $2,930 | $3,414 | $4,066 | $5,092 |
Source: Ownwell