Diamond Cove, Cumberland County, Maine Property Taxes

Name: Property Tax Bills Across Diamond Cove, Cumberland County, Maine
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Diamond Cove, ME effective property tax rate: 1.44%, significantly higher than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median Diamond Cove, ME home value: $430,700
Median annual Diamond Cove, ME tax bill: $6,206, $3,806 higher than the national median property tax bill of $2,400.

How are property taxes in Cumberland calculated?

Property taxes in Diamond Cove, ME are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Diamond Cove’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Diamond Cove, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Diamond Cove, Cumberland County, Maine Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.44%

Estimate Property Tax Bill

$6,202

$5,755

Ownwell’s Diamond Cove Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Diamond Cove with just two data points. By entering your property's estimated assessed value, our calculator applies Diamond Cove’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Cumberland County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Diamond Cove, Cumberland County, Maine

Local government entities set tax rates, and these can vary widely within a state. Each year, counties estimate the budget needed to provide services and then divide this by the total value of all taxable property in their jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Diamond Cove, Cumberland County, ME, the effective property tax rate is 1.44%. This rate is notably higher than the national median property tax rate of 1.02%. However, it is consistent with the highest and lowest median tax rates within the state, both recorded at 1.44% in the same ZIP code, 04109. This suggests a uniformity in property tax rates across the area. When compared to the national median property tax bill of $2400, residents in Diamond Cove may find their property tax bills to be higher, reflecting the higher tax rate. Understanding these rates can help property owners navigate their tax responsibilities more effectively.

Property Tax Rates Across Diamond Cove, Cumberland County, Maine

Source: Ownwell

0.59%

1.46%

2.33%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Diamond Cove Tax Rate

1.44%

Median Effective Cumberland County Tax Rate

1.52%

Median Effective Maine Tax Rate

1.57%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Diamond Cove, Cumberland County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
04109	1.44%	1.44%	1.44%	1.44%	1.44%

Source: Ownwell

Property Tax Assessment Values Across Diamond Cove, Cumberland County, Maine

When examining property taxes in Diamond Cove, ME, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Cumberland County assessment district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Cumberland County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Diamond Cove. For example, the median home price in Diamond Cove is $430,700, with tax bills ranging significantly across the county. ZIP code 04109 has the highest median home price at $430,700.

Property Tax Assessment Values Across Diamond Cove, Cumberland County, Maine

Source: Ownwell

$153,100

$402,100

$651,100

Median Diamond Cove Market Value

$430,700

Median Cumberland County Market Value

$319,900

Median Maine Market Value

$204,200

Median United States Market Value

$235,294

Property Tax Assessment Values Across Diamond Cove, Cumberland County, Maine

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
04109	$286,100	$361,600	$430,700	$799,100	$1,163,600

Source: Ownwell

Property Tax Bills Across Diamond Cove, Cumberland County, Maine

In Diamond Cove, Cumberland County, ME, property tax bills are calculated based on assessed home values, which are determined by the local tax assessor. With a median home price of $430,700, the tax bill reflects the city's specific tax rate applied to this assessed value. Various factors such as property size, location, and market conditions influence these assessments. Homeowners in Diamond Cove face tax bills that range significantly, with the 25th percentile paying around $5,211 and the 90th percentile paying up to $16,767. This variation highlights the impact of property characteristics and assessment values on tax bills. The city's median tax bill stands at $6,206, notably higher than the national median property tax bill of $2,400. Ownwell assists homeowners by providing expert property tax appeal services, potentially lowering these hefty bills. By analyzing property assessments and market data, Ownwell identifies discrepancies and advocates for fairer valuations, helping homeowners in Diamond Cove save on their property tax expenses.

Property Tax Bills Across Diamond Cove, Cumberland County, Maine

Source: Ownwell

$1,920

$6,426

$10,931

Median Diamond Cove Tax Bill

$6,206

Median Cumberland County Tax Bill

$4,856

Median Maine Tax Bill

$3,200

Median United States Tax Bill

$2,400

Property Tax Bills Across Diamond Cove, Cumberland County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
04109	$4,123	$5,211	$6,206	$11,515	$16,767

Source: Ownwell