Mercer, Somerset County, Maine Property Taxes
Median Mercer, ME effective property tax rate: 1.76%, significantly higher than the national median of 1.02%, but lower than the Maine state median of 1.57%.
Median Mercer, ME home value: $123,829
Median annual Mercer, ME tax bill: $2,179, $221 lower than the national median property tax bill of $2,400.
How are property taxes in Somerset calculated?
Property taxes in Mercer, 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 Mercer’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mercer, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mercer, Somerset County, Maine Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.76%
Estimate Property Tax Bill
$2,179
$2,022
Property Tax Rates Across Mercer, Somerset County, Maine
Local government entities are responsible for setting tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
In Mercer, located in Somerset County, the effective property tax rate is a significant figure to consider when evaluating property expenses. Compared to the national median property tax rate of 1.02%, Mercer's rate stands out. Understanding how these rates compare to other cities in Maine and the national average can provide valuable insights for property owners. Mercer's property tax rate mirrors the highest and lowest rates within the same zip code, indicating a uniformity in tax assessments across the area. This consistency can be beneficial for property owners seeking predictability in their annual tax bills.
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 Mercer Tax Rate
1.76%
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 Somerset County Tax Rate
1.77%
Median Effective Maine Tax Rate
1.57%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mercer, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04957 | 1.76% | 1.76% | 1.76% | 1.76% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Mercer, Somerset County, Maine
When examining property taxes in Mercer, Maine, 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 Somerset 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 Somerset 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 Mercer. For example, the median home price in Mercer is $123,829, with tax bills ranging significantly across the county. The zip code 04957 has the highest median home price at $123,829.
Property Tax Assessment Values Across Mercer, Somerset County, Maine
Source: Ownwell
$74,500
$182,040
$289,580
Median Mercer Market Value
$123,829
Median Somerset County Market Value
$105,900
Median Maine Market Value
$204,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mercer, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04957 | $61,659 | $86,822 | $123,829 | $163,830 | $220,683 |
Source: Ownwell
Property Tax Bills Across Mercer, Somerset County, Maine
In Mercer, located in Somerset County, ME, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by local assessors and reflects the market value of the property. Factors such as property size, location, and improvements can influence this value. In Mercer, the 25th percentile tax bill is $1,528, while the 75th percentile is $2,884, indicating variability based on property value and assessment accuracy. Compared to the national median property tax bill of $2,400, Mercer's tax bills can be significantly lower or higher, depending on the property.
Homeowners might face financial strain due to fluctuating tax bills, especially those near the 90th percentile, which reaches $3,884. Ownwell can assist by reviewing assessments and identifying potential inaccuracies. By appealing over-assessed values, Ownwell helps homeowners potentially lower their tax bills, ensuring they pay only their fair share. This service can lead to significant savings and alleviate financial pressure for property owners in Mercer.
Median Mercer Tax Bill
$2,179
Median Somerset County Tax Bill
$1,837
Median Maine Tax Bill
$3,200
Median United States Tax Bill
$2,400
Property Tax Bills Across Mercer, Somerset County, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04957 | $1,086 | $1,528 | $2,179 | $2,884 | $3,884 |
Source: Ownwell