04950 Property Tax Rate
Madison, Maine · Part of Somerset County
Effective Tax Rate
1.27%
23.5% below state avgMedian Annual Tax
$1,954
$163/mo escrow
Estimate Your Tax
Annual Tax
$1,954
Monthly
$163
Eff. Rate
1.27%
Buyer decision brief
What ZIP 04950 means for your housing budget
Use this ZIP page to compare recurring tax burden before you compare listing prices. The numbers below are Census ZCTA estimates, so they are strongest for neighborhood comparison and weakest for parcel-specific tax planning.
Monthly escrow signal
$163/mo
Based on median annual tax paid
State context
0.23 percentage points above the Maine average
Maine average: 1.04%
Data confidence
Moderate confidenceThe Census margin of error is $464, about 24% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Somerset County assessor.
- Check homestead, senior, veteran, and disability exemptions.
- Ask whether purchase triggers reassessment or value-cap reset.
- Review school district and special assessment boundaries.
Lower-rate similar ZIPs
This is informational content, not tax, legal, or mortgage advice. Local assessor records remain the source of truth for a specific property.
Data confidence ledger
Can you trust ZIP 04950 for comparison?
ACS vintage
2019-2023 ACS 5-Year Estimates
Five-year Census ZCTA estimates.
ZCTA caveat
Census area, not parcel boundary
USPS ZIP routes and taxing districts can differ inside the same area.
Field completeness
3/3 required fields
Median tax, home value, and derived rate are present.
MOE status
Moderate ACS confidence
$464 tax MOE, 24% of the median tax estimate.
Last site refresh
March 10, 2026
Dataset and page-quality audit run locally before publication.
County fallback
County context only
Somerset County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 04950
Use the ZIP estimate to compare neighborhoods, then verify these parcel-level inputs before relying on a payment estimate.
Assessed value
The ZCTA median home value is $154,300, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 1.27%, derived from median tax paid divided by median home value.
Exemptions
Homestead, senior, veteran, disability, and local exemptions can reduce taxable value. Confirm eligibility before estimating escrow.
Reassessment
A purchase can change assessed value depending on Maine and county rules. Ask how sale price affects the next assessment cycle.
Escrow impact
The median tax paid in this ZCTA equals about $163 per month before insurance, HOA dues, or special assessments.
Assessor verification
Somerset County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 04950 Compares
Median Annual Property Tax
ZIP 04950
1.27%
Effective rate
Maine Avg
1.04%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Maine
Higher than 82% of ZIP codes in Maine(82th percentile, 399 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 04950
Property owners in ZIP code 04950 (Madison, Maine) pay a median of $1,954/year in property taxes on homes valued at $154,300. This translates to an effective tax rate of 1.27%, which is 22% above the Maine state average of 1.04%.
The monthly property tax burden for a median-valued home in 04950 is approximately $163, which factors into escrow payments on mortgages. This ZIP code is located within Somerset County. This is $600 less than the Maine average of $2,554/year.
Compared to similar ZIP codes in Maine, 04950 has higher property taxes. ZIP codes with similar effective rates include 04911 (1.27%) and 04424 (1.27%).
In Madison, property taxes represent approximately 4.0% of the median household income of $48,750, providing context for the relative tax burden on homeowners in this area.
If you're considering purchasing a home in 04950, 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.
Frequently Asked Questions
What is the property tax rate in ZIP code 04950?
How much are property taxes in Madison, ME (04950)?
How does ZIP 04950 compare to the Maine average?
What is the median home value in ZIP 04950?
What county is ZIP code 04950 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$464. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 04950 is part of Somerset County, Maine. View the full county profile for broader context and more data.
View Somerset County on TaxByCounty →Why compare these ZIPs?
Better comparison set for ZIP 04950
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
04985
West Forks, ME
0.84 percentage points lower than ZIP 04950.
Rate
0.43%
Tax
$1,115
Quality
67
04925
Caratunk, ME
0.82 percentage points lower than ZIP 04950.
Rate
0.44%
Tax
$2,273
Quality
77
04478
Rockwood, ME
0.73 percentage points lower than ZIP 04950.
Rate
0.53%
Tax
$1,971
Quality
77
04923
Cambridge, ME
0.50 percentage points lower than ZIP 04950.
Rate
0.77%
Tax
$1,553
Quality
77
04942
Harmony, ME
0.46 percentage points lower than ZIP 04950.
Rate
0.80%
Tax
$1,401
Quality
82
04920
Bingham, ME
0.45 percentage points lower than ZIP 04950.
Rate
0.82%
Tax
$894
Quality
82
04929
Detroit, ME
0.36 percentage points lower than ZIP 04950.
Rate
0.90%
Tax
$1,217
Quality
82
04971
Saint Albans, ME
0.30 percentage points lower than ZIP 04950.
Rate
0.97%
Tax
$1,802
Quality
82
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.