04938 Property Tax Rate

Property owners in ZIP code 04938 (Farmington, Maine) pay a median of $1,965/year in property taxes on homes valued at $169,300. This translates to an effective tax rate of 1.16%, which is 12% above the Maine state average of 1.04%.

The monthly property tax burden for a median-valued home in 04938 is approximately $164, which factors into escrow payments on mortgages. This ZIP code is located within Franklin County. This is $589 less than the Maine average of $2,554/year.

Compared to similar ZIP codes in Maine, 04938 has lower property taxes. ZIP codes with similar effective rates include 04493 (1.16%) and 04239 (1.16%).

In Farmington, property taxes represent approximately 3.6% of the median household income of $54,281, providing context for the relative tax burden on homeowners in this area.

Maine has no statewide property tax cap; Franklin County reassesses at market value, and your property tax is based on your purchase price. File for the Maine Homestead Property Tax Exemption ($7,500 off assessed value for primary residences) with the Franklin County Assessor's office before April 1 of the year following your purchase. Contact the assessor immediately to request your property's assessment card, revaluation schedule, and any veteran or senior exemption eligibility, and note the appeal deadline (typically 45 days after receiving an assessment notice).