04978 Property Tax Rate

Property owners in ZIP code 04978 (Smithfield, Maine) pay a median of $2,591/year in property taxes on homes valued at $231,300. This translates to an effective tax rate of 1.12%, which is 8% above the Maine state average of 1.04%.

The monthly property tax burden for a median-valued home in 04978 is approximately $216, which factors into escrow payments on mortgages. This ZIP code is located within Somerset County.

Compared to similar ZIP codes in Maine, 04978 has lower property taxes. ZIP codes with similar effective rates include 04556 (1.12%) and 04485 (1.12%).

In Smithfield, property taxes represent approximately 2.5% of the median household income of $105,694, providing context for the relative tax burden on homeowners in this area.

Maine has no statewide property tax cap — your assessment resets to market value at purchase, and the Somerset County Assessor will establish a new base for annual increases. The Maine Homestead Property Tax Exemption exempts $25,000 of assessed value from state and local property taxes; file with the Somerset County Assessor's office by April 1 of the year following purchase. Contact the Somerset County Assessor immediately after closing to confirm your filing deadline and receive your Notice of Valuation.