Lisbon, Maine Property Taxes
The median property tax rate in Lisbon, ME is 2.31%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Lisbon, the typical annual property tax bill reaches $3,130, exceeding the national median of $2,690. Property taxes in Lisbon 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 Lisbon'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 Lisbon 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
Lisbon, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$3,130
Ownwell’s Lisbon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lisbon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lisbon 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 Lisbon, Maine
Property taxes in Lisbon, Maine, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisbon is 2.31%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lisbon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lisbon 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 Lisbon's effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04250 has the highest median property tax rate of 2.31%, while the same zip code also has the lowest median tax rate of 2.31%. Understanding how these values compare with Lisbon 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 Lisbon Tax Rate
2.31%
Average Androscoggin County Tax Rate
2.28%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lisbon, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04250 | 2.31% | 2.31% | 2.31% | 2.31% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Lisbon, Maine
In Lisbon, 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 Lisbon, 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 Lisbon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the highest and lowest median tax bills in Lisbon are both $3,130, found in the 04250 zip code.
Average Lisbon Assessed Value
$135,500
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 Lisbon, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04250 | $21,220 | $57,950 | $135,500 | $172,750 | $222,160 |
Source: Ownwell
Property Tax Bills Across Lisbon, Maine
In Lisbon, Androscoggin County, ME, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the town’s assessor and reflects the estimated market value of the property. Various factors such as home size, location, and market conditions influence this assessment. Lisbon’s property tax rate is notably higher than the national median of 0.99%, leading to significant tax bills for homeowners. For example, the median home price in Lisbon is $135,500, resulting in varying tax bills. The 25th percentile tax bill is $1,338, while the 75th percentile reaches $3,990, and the 90th percentile can soar to $5,132. These tax bills can substantially impact homeowners, influencing decisions on property investments and financial planning. In the zip code 04250, the median tax bill stands at $3,130, which is consistent across the highest and lowest ranges. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their budgets accordingly.
Average Lisbon Tax Bill
$3,130
Average Androscoggin County Tax Bill
$3,060
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Lisbon, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04250 | $490 | $1,338 | $3,130 | $3,990 | $5,132 |
Source: Ownwell