Bremen, Maine Property Taxes
The median property tax rate in Bremen, ME is 1.20%, higher than both the national median of 0.99% and Maine's state median of 1.57%. With a median home value of $233,800 in Bremen, the typical annual property tax bill reaches $2,806, surpassing the national median of $2,690. Property taxes in Bremen are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Bremen'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 Bremen or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bremen, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,806
Ownwell’s Bremen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bremen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bremen 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 Lincoln County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bremen, Maine
Property taxes in Bremen, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bremen is 1.20%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bremen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bremen 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 Bremen's effective property tax rate to other counties in Maine and the national median. For comparison, the 04551 zip code has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Bremen provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bremen Tax Rate
1.20%
Average Lincoln County Tax Rate
1.40%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bremen, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04551 | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Bremen, Maine
In Bremen, 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 local 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 Bremen, 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 Bremen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lincoln County is $2806 in the 04551 zip code, while the lowest is also $2806 in the same zip code.
Average Bremen Assessed Value
$233,800
Average Lincoln County Assessed Value
$224,290
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bremen, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04551 | $101,130 | $152,875 | $233,800 | $386,100 | $564,510 |
Source: Ownwell
Property Tax Bills Across Bremen, Maine
In Bremen, located in Lincoln County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Bremen is $233,800. Homeowners' tax bills can vary significantly, with those in the 25th percentile paying around $1,835, while those in the 75th percentile face bills closer to $4,634. At the higher end, the 90th percentile tax bill reaches approximately $6,774. The local tax rate, applied to the assessed value of the property, determines the final tax bill. This rate is influenced by the county's budgetary needs and the total value of all assessed properties. Homeowners in Bremen may find their tax bills higher or lower than the national median property tax rate of 0.99%, depending on these local factors. This system ensures that property taxes reflect the value of the home and the financial requirements of the community, impacting homeowners by contributing to local services and infrastructure.
Average Bremen Tax Bill
$2,806
Average Lincoln County Tax Bill
$2,866
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Bremen, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04551 | $1,214 | $1,835 | $2,806 | $4,634 | $6,774 |
Source: Ownwell