Great Diamond Island, Cumberland County, Maine Property Taxes
Median Great Diamond Island, 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 Great Diamond Island, ME home value: $392,950
Median annual Great Diamond Island, ME tax bill: $5,662, $3,262 higher than the national median property tax bill of $2,400.
How are property taxes in Cumberland calculated?
Property taxes in Great Diamond Island, 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 Great Diamond Island’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Great Diamond Island, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Great Diamond Island, Cumberland County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.44%
Estimate Property Tax Bill
$5,658
$5,251
Ownwell’s Great Diamond Island Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Great Diamond Island with just two data points.
By entering your property's estimated assessed value, our calculator applies Great Diamond Island’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 Great Diamond Island, Cumberland County, Maine
Local government entities are responsible for setting property tax rates, which can vary significantly even within the same state. This is because each county calculates its required budget to deliver essential services and then divides this by the total assessed value of all taxable properties in its area, resulting in the property tax rate. While votes and legal frameworks play a role in determining these rates and budgets, this is the fundamental annual process.
In Great Diamond Island within 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 aligns with the median property tax rates observed across the state, suggesting a consistency in how property taxes are assessed in this region. Understanding these rates can provide valuable insights for property owners, highlighting the importance of staying informed about local tax policies and potential appeal opportunities.
Property Tax Rates Across Great Diamond Island, 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 Great Diamond Island Tax Rate
1.44%
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 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 Great Diamond Island, 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 Great Diamond Island, Cumberland County, Maine
When examining property taxes in Great Diamond Island, 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 appraisal 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 May. 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 Great Diamond Island.
For example, the median home price in Great Diamond Island is $392,950, with tax bills ranging significantly across the county. Zip code 04109 has the highest median home price at $392,950.
Property Tax Assessment Values Across Great Diamond Island, Cumberland County, Maine
Source: Ownwell
$153,100
$402,100
$651,100
Median Great Diamond Island Market Value
$392,950
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 Great Diamond Island, Cumberland County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04109 | $269,500 | $284,025 | $392,950 | $581,625 | $675,200 |
Source: Ownwell
Property Tax Bills Across Great Diamond Island, Cumberland County, Maine
In Great Diamond Island, located in Cumberland County, ME, property tax bills are determined by the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. With a median home price of $392,950, homeowners can expect their tax obligations to vary significantly. The 25th percentile tax bill is $4,093, while the 75th percentile reaches $8,381, and the 90th percentile climbs to $9,730. Notably, the median tax bill in the area is $5,662, higher than the national median of $2,400, reflecting the region's higher property values and tax rates. This tax burden can be substantial for homeowners, impacting their overall financial health.
Ownwell can assist homeowners in Great Diamond Island by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps clients potentially reduce their tax bills, ensuring they pay only their fair share. This service can lead to significant savings, offering homeowners financial relief.
Property Tax Bills Across Great Diamond Island, Cumberland County, Maine
Source: Ownwell
$1,920
$6,426
$10,931
Median Great Diamond Island Tax Bill
$5,662
Median Cumberland County Tax Bill
$4,856
Median Maine Tax Bill
$3,200
Median United States Tax Bill
$2,400
Property Tax Bills Across Great Diamond Island, Cumberland County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04109 | $3,884 | $4,093 | $5,662 | $8,381 | $9,730 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Cumberland Tax Assessor | |
| Website | gis.vgsi.com |