An electronic liquid level gauge assembly includes an electronic display located in a housing connected to a tank. The display has first and second display portions for indicating liquid level condition. A first electronic sensor senses a change in magnetic field of a magnet associated with a liquid level transducer, with magnet rotation being proportional liquid level change. A processor determines a temperature-compensated liquid level condition by correlating the liquid level signal with temperature measurement of the liquid. A temperature-compensated vapor space can also be calculated based on tank information and properties of the liquid. Signals related to the temperature-compensated liquid level and vapor space are sent to the display and wirelessly transmitted to a smart phone or the like for remotely viewing the tank information. The smart phone also includes a special app for sending information, firmware updates, and display configuration data to the electronic gauge assembly.