Long Pond Twp, Somerset County, Maine Property Taxes
The median property tax rate in Long Pond Township, ME is 0.76%, considerably lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Long Pond Township, the typical annual property tax bill reaches $1,133, significantly below the national median of $2,690. Property taxes in Long Pond Township 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 Long Pond Township'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 Long Pond Township 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
Long Pond Twp, Somerset County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,129
$1,048
Ownwell’s Long Pond Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Long Pond Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Long Pond 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 Long Pond Twp, Somerset County, Maine
Property taxes in Long Pond Township, Maine, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Long Pond Township is 0.76%, which is lower than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Long Pond Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Long Pond 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 Long Pond Township's effective property tax rate to other counties in Maine and the national median. For comparison, the zip code 04945 has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Long Pond Township provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Long Pond Twp Tax Rate
0.76%
Average Somerset County Tax Rate
1.77%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Long Pond Twp, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04945 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Long Pond Twp, Somerset County, Maine
In Long Pond Township, 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 Somerset 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 Long Pond Township, 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, in the 04945 zip code, the median tax bill is $1,133, which is both the highest and lowest median tax bill in the area. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Long Pond Twp, Somerset County, Maine
Source: Ownwell
$74,500
$182,040
$289,580
Average Long Pond Twp Assessed Value
$148,530
Average Somerset County Assessed Value
$105,900
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Long Pond Twp, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04945 | $61,162 | $82,900 | $148,530 | $179,645 | $210,118 |
Source: Ownwell
Property Tax Bills Across Long Pond Twp, Somerset County, Maine
In Long Pond Township, Somerset 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 this region is $148,530. Property taxes are determined by multiplying the assessed value of the property by the local tax rate. For instance, homeowners with properties in the 25th percentile can expect a tax bill around $646, while those in the 75th percentile might see bills closer to $1,370. At the 90th percentile, tax bills can reach up to $1,603. These tax bills significantly impact homeowners, with the highest median tax bill in the area being $1,133, which is assessed in the 04945 ZIP code. Compared to the national median property tax rate of 0.99%, the tax rates in Long Pond Township can vary, influencing the overall financial responsibility of property owners. Understanding these factors is crucial for homeowners to manage their expenses and plan their budgets effectively.
Average Long Pond Twp Tax Bill
$1,133
Average Somerset County Tax Bill
$1,837
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Long Pond Twp, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04945 | $467 | $646 | $1,133 | $1,370 | $1,603 |
Source: Ownwell