Livermore, Maine Property Taxes
The median property tax rate in Livermore, ME is 1.63%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Livermore, the typical annual property tax bill reaches $1,793, exceeding the national median of $2,690. Property taxes in Livermore 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 Livermore's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Livermore 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
Livermore, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$1,798
Ownwell’s Livermore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Livermore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Livermore 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 Livermore, Maine
Property taxes in Livermore, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Livermore is 1.63%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Livermore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Livermore 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 Livermore's effective property tax rate to other counties in Maine and the national median. For comparison, the highest and lowest median property tax rates in Androscoggin County are both 1.63%, identical to Livermore's rate. Understanding how these cities compare with Livermore 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 Livermore Tax Rate
1.63%
Average Androscoggin County Tax Rate
2.28%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Livermore, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04253 | 1.62% | 1.62% | 1.63% | 1.63% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Livermore, Maine
In Livermore, 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 Livermore, 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 Livermore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 04253, both at $1,793, reflecting the uniformity in tax assessments across the region.
Average Livermore Assessed Value
$110,330
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 Livermore, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04253 | $18,973 | $66,612 | $110,330 | $145,569 | $168,334 |
Source: Ownwell
Property Tax Bills Across Livermore, Maine
In Livermore, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The median home price in the area is $110,330. Local tax authorities apply a specific tax rate to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Livermore can expect their tax bills to vary. For instance, the 25th percentile tax bill is $1,082, while the 75th percentile tax bill is $2,365. At the higher end, the 90th percentile tax bill reaches $2,735. This range shows how different property values and assessments can lead to varying tax obligations. Compared to the national median property tax rate of 0.99%, Livermore homeowners experience a unique tax landscape influenced by local assessments and property values. Understanding these factors can help homeowners anticipate their tax responsibilities and plan accordingly.
Average Livermore Tax Bill
$1,793
Average Androscoggin County Tax Bill
$3,060
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Livermore, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04253 | $308 | $1,082 | $1,793 | $2,365 | $2,735 |
Source: Ownwell