Lincolnville, Maine Property Taxes
The median property tax rate in Lincolnville, ME is 1.57%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Lincolnville, the typical annual property tax bill reaches $3,262, exceeding the national median of $2,690. Property taxes in Lincolnville 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 Lincolnville'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 Lincolnville 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
Lincolnville, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,262
Ownwell’s Lincolnville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincolnville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincolnville 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 Lincolnville, Maine
Property taxes in Lincolnville, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincolnville is 1.57%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Lincolnville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincolnville 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 Lincolnville's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04849 has both the highest and lowest median property tax rate of 1.57%. Understanding how these areas compare with Lincolnville provides valuable insights into the varying tax landscape across Waldo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincolnville Tax Rate
1.57%
Average Waldo County Tax Rate
1.74%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincolnville, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04849 | 1.57% | 1.57% | 1.57% | 1.57% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Lincolnville, Maine
In Lincolnville, 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 Waldo 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 Lincolnville, 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 Lincolnville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04849 in Lincolnville has both the highest and lowest median tax bill, which stands at $3,262.
Average Lincolnville Assessed Value
$207,800
Average Waldo County Assessed Value
$154,000
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lincolnville, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04849 | $117,060 | $156,800 | $207,800 | $279,700 | $395,220 |
Source: Ownwell
Property Tax Bills Across Lincolnville, Maine
In Lincolnville, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. Once the assessed value is established, it is multiplied by the tax rate to calculate the tax bill. For instance, with a median home price of $207,800 in Lincolnville, homeowners can expect their tax bills to vary significantly. Factors such as property size, location, and improvements can influence the assessed value. The tax bill in Lincolnville ranges from $2,462 at the 25th percentile to $6,205 at the 90th percentile, indicating a broad spectrum of tax burdens among homeowners. The highest median tax bill in the area is $3,262, which is above the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Lincolnville Tax Bill
$3,262
Average Waldo County Tax Bill
$2,632
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincolnville, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04849 | $1,838 | $2,462 | $3,262 | $4,391 | $6,205 |
Source: Ownwell