Lakeville, Penobscot County, Maine Property Taxes

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

Median LAKEVILLE, ME effective property tax rate: 0.83%, significantly lower than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median LAKEVILLE, ME home value: $190,510
Median annual LAKEVILLE, ME tax bill: $1,574, $826 lower than the national median property tax bill of $2,400.

How are property taxes in Penobscot calculated?

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

Last Updated March 1, 2025

Lakeville, Penobscot County, Maine Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.83%

Estimate Property Tax Bill

$1,581

$1,467

Ownwell’s Lakeville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lakeville with just two data points. By entering your property's estimated assessed value, our calculator applies Lakeville’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 Penobscot. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lakeville, Penobscot County, Maine

Local government entities are responsible for setting tax rates, leading to significant variations within a state. Each county estimates its budgetary needs annually to provide necessary services and divides this by the total value of all taxable property within its jurisdiction. This calculation is what determines the property tax rate. While the process involves votes and legislation to establish tax rates and budgets, this is essentially how it unfolds each year.

In Lakeville, located in Penobscot County, Maine, the effective property tax rate provides an interesting point of comparison. Lakeville's rate can be contrasted with other cities in Maine and the broader median property tax rates across the state and the U.S. With Maine's median property tax rate at 0.83%, it is below the national median of 1.02%. This difference highlights the variability and localized nature of property tax rates, demonstrating how they are tailored to meet the specific fiscal requirements of each county. Such comparisons can be insightful for property owners and prospective buyers looking to understand the financial landscape of different regions.

Property Tax Rates Across Lakeville, Penobscot County, Maine

Source: Ownwell

0.83%

2.07%

3.32%

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 Lakeville Tax Rate

0.83%

Median Effective Penobscot County Tax Rate

1.92%

Median Effective Maine Tax Rate

1.57%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lakeville, Penobscot County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
04487	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Lakeville, Penobscot County, Maine

When examining property taxes in Lakeville, 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 Penobscot County Assessor's Office 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 Penobscot 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 Lakeville.

For example, the median home price in Lakeville is $190,510, with tax bills ranging significantly across the county. The national median property tax bill is $2,400, highlighting the variance in local tax obligations.

Property Tax Assessment Values Across Lakeville, Penobscot County, Maine

Source: Ownwell

$49,573

$134,232

$218,890

Median Lakeville Market Value

$190,510

Median Penobscot County Market Value

$141,580

Median Maine Market Value

$204,200

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lakeville, Penobscot County, Maine

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
04487	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Lakeville, Penobscot County, Maine

Property tax bills in Lakeville, located in Penobscot County, Maine, are calculated based on the assessed value of a property. The assessed value is determined by local assessors and is influenced by the property's market value, which in Lakeville is reflected by a median home price of $190,510. The property tax rate is then applied to this assessed value to calculate the tax bill. For residents of Lakeville, the tax bill is consistent across different percentiles, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $1,574. This amount is significantly lower than the national median property tax bill of $2,400, making Lakeville an attractive location for homeowners seeking lower property taxes. However, homeowners can still benefit from ensuring their property is not over-assessed. Ownwell offers services to help homeowners appeal their property tax assessments, potentially lowering their tax bills. By identifying discrepancies in assessed values and guiding homeowners through the appeal process, Ownwell can help secure substantial savings.

Property Tax Bills Across Lakeville, Penobscot County, Maine

Source: Ownwell

$575

$2,490

$4,405

Median Lakeville Tax Bill

$1,574

Median Penobscot County Tax Bill

$2,548

Median Maine Tax Bill

$3,200

Median United States Tax Bill

$2,400

Property Tax Bills Across Lakeville, Penobscot County, Maine

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
04487	N/A	N/A	N/A	N/A	N/A

Source: Ownwell