Lagrange, Maine Property Taxes
The median property tax rate in Lagrange, ME is 1.49%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Lagrange, the typical annual property tax bill reaches $1,110, exceeding the national median of $2,690. Property taxes in Lagrange 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 Lagrange'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 Lagrange 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
Lagrange, 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 LAGRANGE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LAGRANGE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LAGRANGE 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 Lagrange, Maine
Property taxes in Lagrange, Maine, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Lagrange is 1.49%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lagrange set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lagrange 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 Lagrange's effective property tax rate to other regions and the national median. For comparison, the highest and lowest median property tax rates in the area are both 1.49%, found in the zip code 04453. Understanding how these figures compare with Lagrange provides valuable insights into the varying tax landscape across Penobscot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lagrange Tax Rate
1.49%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lagrange, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04453 | 1.48% | 1.48% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Lagrange, Maine
In LaGrange, 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 Penobscot 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 LaGrange, 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 LaGrange helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 04453 has the highest median tax bill at $1110.
Average Lagrange Assessed Value
$74,722
Average Penobscot County Assessed Value
$141,580
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lagrange, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04453 | $33,917 | $50,239 | $74,722 | $110,856 | $173,457 |
Source: Ownwell
Property Tax Bills Across Lagrange, Maine
In Lagrange, located in Penobscot County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Lagrange is $74,722. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate. For instance, homeowners at the 25th percentile can expect a tax bill of around $746, while those at the 75th percentile may see bills around $1,649. At the 90th percentile, the tax bill can reach approximately $2,627. Factors influencing the tax bill include property size, location, and market conditions. The assessed value is typically a percentage of the market value, which may be reassessed periodically. Compared to the national median property tax rate of 0.99%, Lagrange's tax rates can be quite impactful on homeowners. Higher tax bills can affect affordability and long-term financial planning, making it crucial for homeowners to understand how their property taxes are calculated and budget accordingly.
Average Lagrange Tax Bill
$1,110
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Lagrange, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04453 | $504 | $746 | $1,110 | $1,649 | $2,627 |
Source: Ownwell