Lang Twp, Maine Property Taxes
The median property tax rate in Lang Twp, ME is 0.83%, which is lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Lang Twp at $148,885, the typical annual property tax bill is $1,230, well below the national median of $2,690. Property taxes in Lang Twp are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lang Twp'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 Lang Twp 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
Lang Twp, 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 LANG TWP Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LANG TWP with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LANG TWP 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 Lang Twp, Maine
Property taxes in Lang Township, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lang Township is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Lang Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lang Township 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 Lang Township's effective property tax rate to other areas in Maine and the national median. For comparison, the 04970 zip code has both the highest and lowest median property tax rates in the county, standing at 0.83%. Understanding how these areas compare with Lang Township provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lang Twp Tax Rate
0.83%
Average Franklin County Tax Rate
1.80%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lang Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04970 | 0.79% | 0.81% | 0.83% | 0.83% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Lang Twp, Maine
In LANG TWP, 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 Franklin 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 LANG TWP, 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 LANG TWP helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1230.00, found in zip code 04970. Similarly, the lowest median tax bill also stands at $1230.00 in the same zip code.
Average Lang Twp Assessed Value
$148,885
Average Franklin County Assessed Value
$119,100
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lang Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04970 | $123,683 | $134,172 | $148,885 | $264,102 | $455,501 |
Source: Ownwell
Property Tax Bills Across Lang Twp, Maine
In Lang Township, Franklin County, ME, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. Homeowners in Lang Township can expect a range of tax bills, with the 25th percentile at $1,093 and the 75th percentile at $2,225. For those in the 90th percentile, tax bills can go up to $3,885. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates stack up. The highest and lowest median tax bills in the area are both $1,230, indicating a degree of uniformity in tax assessments. This system ensures that property taxes are fairly distributed, but it also means that homeowners must stay informed about their property’s assessed value to anticipate their annual tax obligations accurately.
Average Lang Twp Tax Bill
$1,230
Average Franklin County Tax Bill
$1,981
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Lang Twp, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04970 | $980 | $1,093 | $1,230 | $2,225 | $3,885 |
Source: Ownwell