Steep Falls, Cumberland County, Maine Property Taxes

Name: Property Tax Bills Across Steep Falls, Cumberland County, Maine
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median STEEP FALLS, ME effective property tax rate: 1.45%, significantly higher than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median STEEP FALLS, ME home value: $210,400
Median annual STEEP FALLS, ME tax bill: $3,040, $640 higher than the national median property tax bill of $2,400.

How are property taxes in Cumberland calculated?

Property taxes in STEEP FALLS, ME are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding STEEP FALLS’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in STEEP FALLS, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Steep Falls, Cumberland County, Maine Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.45%

Estimate Property Tax Bill

$3,051

$2,831

Ownwell’s Steep Falls Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Steep Falls with just two data points.

By entering your property's estimated assessed value, our calculator applies Steep Falls' median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Cumberland County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Steep Falls, Cumberland County, Maine

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In Cumberland County, the effective property tax rate is 1.45%, which is higher than the national median of 1.02%. This rate reflects the local government's budgetary needs and the value of taxable properties in the area. Despite the higher rate, property owners in Cumberland County can potentially benefit from appealing their assessed property values to ensure they're not overpaying. By comparing the effective property tax rate in Steep Falls to other cities in Maine and the national median, residents can better understand their tax obligations and explore opportunities for savings. Understanding these nuances can empower property owners to make informed decisions about their property tax liabilities.

Property Tax Rates Across Steep Falls, Cumberland County, Maine

Source: Ownwell

0.59%

1.46%

2.33%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Steep Falls Taxx Rate

1.45%

Median Effective Cumberland County Taxx Rate

1.52%

Median Effective Maine Tax Rate

1.57%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Steep Falls, Cumberland County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
04085	1.44%	1.44%	1.45%	1.45%	1.45%

Source: Ownwell

Property Tax Assessment Values Across Steep Falls, Cumberland County, Maine

When examining property taxes in Steep Falls, ME, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Cumberland County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Cumberland County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Steep Falls.

For example, the median home price in Steep Falls is $210,400, with tax bills ranging significantly across the county. Zip code 04085 has the highest median home price at $210,400.

Property Tax Assessment Values Across Steep Falls, Cumberland County, Maine

Source: Ownwell

$153,100

$402,100

$651,100

Median Steep Falls Market Value

$210,400

Median Cumberland County Market Value

$319,900

Median Maine Market Value

$204,200

Median United States Market Value

$244,900

Property Tax Assessment Values Across Steep Falls, Cumberland County, Maine

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
04085	$145,940	$182,300	$210,400	$252,600	$304,120

Source: Ownwell

Property Tax Bills Across Steep Falls, Cumberland County, Maine

In Steep Falls, Cumberland County, ME, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in this area is $210,400. With property tax bills ranging from the 25th percentile at $2,634 to the 90th percentile at $4,395, homeowners often face significant expenses. The median tax bill stands at $3,040, notably higher than the national median of $2,400. This higher tax burden can impact homeowners' finances, making it crucial to ensure that the assessed value of their property accurately reflects its true market value. Ownwell steps in to assist homeowners by analyzing their property assessments and identifying potential inaccuracies or overvaluations. By leveraging expert knowledge and local data, Ownwell helps homeowners file effective appeals, potentially reducing their tax bills. This service not only alleviates financial strain but also ensures that homeowners in Steep Falls are paying a fair amount in property taxes.

Property Tax Bills Across Steep Falls, Cumberland County, Maine

Source: Ownwell

$1,920

$6,426

$10,931

Median Steep Falls Tax Bill

$3,040

Median Cumberland County Tax Bill

$4,856

Median Maine Tax Bill

$3,200

Median United States Tax Bill

$2,690

Property Tax Bills Across Steep Falls, Cumberland County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
04085	$2,109	$2,634	$3,040	$3,650	$4,395

Source: Ownwell