1. How do Cumberland County’s property taxes compare to the rest of Maine?

 

A brand-new report from the Tax Foundation revealed that in 2022, the median property tax payment in Cumberland County was $4,372. That was almost $1,000 higher than any other Maine county, and tax payments have only gone up since then.

 

Nationwide, the average property tax payment is $1,815. So Cumberland was almost triple the average, even before rates changed following the latest reassessment. 

 

 

2. What about on a state level? How do Maine’s property taxes compare to the rest of the country?

 

That question is a little more complicated than it seems. 

 

The Tax Foundation report says Maine ranks #21 for highest property taxes: The average Maine resident pays just under 1% of the value of their home towards property taxes. Most of New England is way higher than that.

 

But the same week, WalletHub released a report that says Maine has the highest property tax burden in the country. They’re measuring based on income, not property value. The average Maine resident spends 4.86% of their income on property taxes. No other state spends that much.

 

 

3. Why is Maine’s property tax burden the highest? What’s different here than in other states?

 

As you probably already know, Maine’s house values have shot up over the past five years — more than any other U.S. state.

 

One percent of the value of your house didn’t used to be as large of a payment. But if your home valuation has increased by the average $160,000, suddenly a 1% property tax payment is a lot more money. 

 

It’s also a much bigger percentage of your paycheck. These property tax reports are one indicator that income in Maine may have not increased at the same pace as home values.

 

 

4. Is the rest of New England in a similar situation?

 

The rest of New England pays a higher percentage of their home value than most Maine families do. Three of the top 10 states for property tax rates are in New England, plus New York and New Jersey.

 

In Connecticut, property taxes are 1.8% of home value - the 3rd highest in the country.

 

Maine’s at .96%, the lowest in New England. That puts counties in a tough position - are they willing to decrease their spending to lower property tax rates to even cheaper than other New England states? Is the state legislature willing to offer tax relief payments?