Limington, Maine Property Taxes
The median property tax rate in Limington, ME is 1.02%, slightly above the national median of 0.99% but lower than Maine's state median of 1.57%. With the median home value in Limington at $327,892, the typical annual property tax bill reaches $3,365, surpassing the national median of $2,690. Property taxes in Limington are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Limington'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 Limington or another part of York County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Limington, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$3,344
Ownwell’s Limington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Limington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Limington 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 Limington, Maine
Property taxes in Limington, ME, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Limington is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Limington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Limington 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 Limington's effective property tax rate to other regions and the national median. For comparison, the 04049 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these areas compare with Limington provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Limington Tax Rate
1.02%
Average York County Tax Rate
1.32%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Limington, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04049 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Limington, Maine
In Limington, 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 York 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 Limington, 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 Limington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Limington are both $3,365, found in the 04049 zip code.
Average Limington Assessed Value
$327,892
Average York County Assessed Value
$307,400
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Limington, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04049 | $149,946 | $256,588 | $327,892 | $413,226 | $510,215 |
Source: Ownwell
Property Tax Bills Across Limington, Maine
In Limington, located in York County, 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 town's assessor and is intended to reflect the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the size, location, and condition of the property, as well as recent sales of similar properties in the area. For homeowners in Limington, property taxes can vary significantly. For example, the 25th percentile tax bill is $2,645, while the 75th percentile tax bill is $4,231, and the 90th percentile tax bill can reach up to $5,221. These property tax bills impact homeowners by contributing to the cost of homeownership and influencing decisions related to property investment and maintenance. The median home price in Limington is $327,892, which helps provide context for these tax figures.
Average Limington Tax Bill
$3,365
Average York County Tax Bill
$3,841
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Limington, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04049 | $1,542 | $2,645 | $3,365 | $4,231 | $5,221 |
Source: Ownwell