Levant, Maine Property Taxes
The median property tax rate in Levant, ME is 1.18%, which is higher than the national median of 0.99% but lower than the Maine state median of 1.57%. With the median home value in Levant, the typical annual property tax bill reaches $1,188, which is below the national median of $2,690. Property taxes in Levant 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 Levant'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 Levant 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
Levant, 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 Levant Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Levant with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Levant to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value, determined by Penobscot County, is used for property tax calculations and may account for applicable exemptions.
Property Tax Rates Across Levant, Maine
Property taxes in Levant, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Levant is 1.18%, notably higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Levant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Levant 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 Levant's effective property tax rate to other counties in Maine and the national median. For comparison, the 04456 zip code has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Levant 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 Levant Tax Rate
1.18%
Average Penobscot County Tax Rate
1.92%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Levant, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04456 | 1.17% | 1.17% | 1.18% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Levant, Maine
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Levant, Maine. 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. Assessment notices in Levant 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 Levant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Levant are both $1,188, found in zip code 04456.
Average Levant Assessed Value
$101,100
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 Levant, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04456 | $25,250 | $64,125 | $101,100 | $147,925 | $185,780 |
Source: Ownwell
Property Tax Bills Across Levant, Maine
In Levant, located in Penobscot County, ME, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. The local tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and any improvements made to the property can influence the assessed value. For homeowners in Levant, the median home price is $101,100. The tax bill can vary significantly, with the 25th percentile tax bill at $753 and the 75th percentile tax bill at $1,738. At the 90th percentile, homeowners might see a tax bill as high as $2,183. These figures highlight how property taxes can impact household budgets, especially when compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Levant Tax Bill
$1,188
Average Penobscot County Tax Bill
$2,548
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Levant, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04456 | $303 | $753 | $1,188 | $1,738 | $2,183 |
Source: Ownwell