Leeds, Maine Property Taxes
The median property tax rate in Leeds, ME is 1.85%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Leeds, the typical annual property tax bill reaches $2,560, slightly below the national median of $2,690. Property taxes in Leeds 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 Leeds' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Leeds 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
Leeds, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$2,560
Ownwell’s Leeds Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leeds with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leeds 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 Leeds, Maine
Property taxes in Leeds, ME, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leeds is 1.85%, significantly higher than the U.S. national median of 0.99%. Local government entities within Leeds set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leeds 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 Leeds' effective property tax rate to other counties in Maine and the national median. For comparison, the 04263 zip code has both the highest and lowest median property tax rate of 1.85%. Understanding how these cities compare with Leeds provides valuable insights into the varying tax landscape across Androscoggin, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leeds Tax Rate
1.85%
Average Androscoggin County Tax Rate
2.28%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leeds, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04263 | 1.85% | 1.85% | 1.85% | 1.85% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Leeds, Maine
In Leeds, 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 Leeds, 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. The median home price in Leeds is $138,400, with tax bills ranging from $1,898 at the 25th percentile to $4,081 at the 90th percentile. The highest and lowest median tax bills are both $2,560 in zip code 04263. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leeds Assessed Value
$138,400
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 Leeds, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04263 | $67,840 | $102,600 | $138,400 | $172,550 | $220,560 |
Source: Ownwell
Property Tax Bills Across Leeds, Maine
In Leeds, located in Androscoggin County, ME, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For instance, with a median home price of $138,400, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors influencing the tax bill include the property's market value, any improvements made, and local tax levies. The 25th percentile tax bill in Leeds is $1,898, while the 75th percentile tax bill is $3,192, and the 90th percentile tax bill reaches up to $4,081. These figures indicate a range of tax burdens that can significantly impact homeowners' finances. Comparatively, the national median property tax rate is 0.99%, highlighting that property taxes in Leeds can be higher than the national average, affecting the overall cost of homeownership and potentially influencing residents' decisions regarding property investments.
Average Leeds Tax Bill
$2,560
Average Androscoggin County Tax Bill
$3,060
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Leeds, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04263 | $1,255 | $1,898 | $2,560 | $3,192 | $4,081 |
Source: Ownwell