Livermore Falls, Maine Property Taxes
The median property tax rate in Livermore Falls, ME is 2.43%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Livermore Falls, the typical annual property tax bill reaches $1,724, exceeding the national median of $2,690. Property taxes in Livermore Falls 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 Livermore Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Livermore Falls 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
Livermore Falls, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Livermore Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Livermore Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Livermore Falls 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 Livermore Falls, Maine
Property taxes in Livermore Falls, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Livermore Falls is 2.43%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Livermore Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Livermore Falls 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 Livermore Falls' effective property tax rate to other areas in Maine and the national median. For comparison, the zip code 04254 has the highest median property tax rate of 2.43%, while the same zip code also has the lowest median tax rate of 2.43%. Understanding how these rates compare with Livermore Falls 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 Livermore Falls Tax Rate
2.43%
Average Androscoggin County Tax Rate
2.28%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Livermore Falls, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04254 | 2.42% | 2.42% | 2.43% | 2.43% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Livermore Falls, Maine
In Livermore Falls, 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 Livermore Falls, 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. For instance, Livermore Falls has a median home price of $71,100, with annual property tax bills ranging from $850 at the 25th percentile to $3,373 at the 90th percentile. The zip code 04254 has the highest and lowest median tax bill at $1,724. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Livermore Falls Assessed Value
$71,100
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 Livermore Falls, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04254 | $14,430 | $34,800 | $71,100 | $104,200 | $138,980 |
Source: Ownwell
Property Tax Bills Across Livermore Falls, Maine
Property tax bills in Livermore Falls, located in Androscoggin County, ME, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor’s office, which evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Livermore Falls, the median home price stands at $71,100. Property tax bills can vary significantly, with the 25th percentile tax bill at $850 and the 75th percentile reaching $2,532. At the 90th percentile, homeowners might face a tax bill as high as $3,373. Comparatively, the national median property tax rate is 0.99%, making Livermore Falls' tax rates a critical factor for residents. The highest and lowest median tax bills in the area are both recorded at $1,724 in the 04254 zip code, indicating a level of consistency in tax assessments within this region. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Livermore Falls Tax Bill
$1,724
Average Androscoggin County Tax Bill
$3,060
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Livermore Falls, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04254 | $361 | $850 | $1,724 | $2,532 | $3,373 |
Source: Ownwell