Liberty, Maine Property Taxes
The median property tax rate in Liberty, ME is 1.55%, slightly lower than the state median of 1.57% but still significantly higher than the national median of 0.99%. With the median home value in Liberty at $150,970, the typical annual property tax bill amounts to $2,332, which is below the national median of $2,690. Property taxes in Liberty are determined based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a clear understanding of Liberty's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Liberty 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
Liberty, 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 Liberty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Liberty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Liberty 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 Liberty, Maine
Property taxes in Liberty, Maine, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Liberty is 1.55%, significantly higher than both the Maine state median and the U.S. national median of 0.99%. Local government entities within Liberty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Liberty 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 Liberty's effective property tax rate to other counties in Maine and the national median. For comparison, the 04949 zip code has the highest and lowest median property tax rate of 1.55%. Understanding how these areas compare with Liberty provides valuable insights into the varying tax landscape across Waldo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Liberty Tax Rate
1.55%
Average Waldo County Tax Rate
1.74%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Liberty, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04949 | 1.54% | 1.54% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Liberty, Maine
In Liberty, 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 Waldo 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 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. In Liberty, the median home price is approximately $150,970. The 25th percentile tax bill is around $1,644, while the 75th percentile tax bill is about $3,436, and the 90th percentile tax bill reaches up to $4,386. The highest and lowest median tax bills in the area both amount to $2,332, specifically in the 04949 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Liberty Assessed Value
$150,970
Average Waldo County Assessed Value
$154,000
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Liberty, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04949 | $76,264 | $106,380 | $150,970 | $222,370 | $283,894 |
Source: Ownwell
Property Tax Bills Across Liberty, Maine
In Liberty, located in Waldo 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 local assessor's office and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the tax bill. Several factors influence the assessed value, including the size of the property, its location, and any improvements made to it. For homeowners in Liberty, the median home price stands at $150,970. The property tax bill can vary significantly, with the 25th percentile at $1,644 and the 75th percentile reaching up to $3,436. For those in the 90th percentile, the tax bill can be as high as $4,386. These property tax bills have a direct impact on homeowners, influencing their annual financial planning and the overall affordability of owning a home in Liberty. Compared to the national median property tax rate of 0.99%, Liberty’s property tax rates are reflective of its local economic conditions and public service funding needs.
Average Liberty Tax Bill
$2,332
Average Waldo County Tax Bill
$2,632
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Liberty, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04949 | $1,178 | $1,644 | $2,332 | $3,436 | $4,386 |
Source: Ownwell