04920 Property Tax Rate

Property owners in ZIP code 04920 (Bingham, Maine) pay a median of $894/year in property taxes on homes valued at $108,900. This translates to an effective tax rate of 0.82%, which is 21% below the Maine state average of 1.04%.

The monthly property tax burden for a median-valued home in 04920 is approximately $75, which factors into escrow payments on mortgages. This ZIP code is located within Somerset County. This is $1,660 less than the Maine average of $2,554/year.

Compared to similar ZIP codes in Maine, 04920 has lower property taxes. ZIP codes with similar effective rates include 04970 (0.82%) and 04490 (0.82%).

In Bingham, property taxes represent approximately 2.1% of the median household income of $43,138, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 04920, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Somerset County's tax assessor directly.