There's no single answer to what liter a 305 cubic inch V8 engine is in a Town Car. The cubic inch measurement (305) is the displacement, and while it translates to a specific liter amount, the precise figure can vary slightly depending on how the calculation is performed and rounding.
A generally accepted conversion is that 305 cubic inches is approximately 5.0 liters. However, you might see figures slightly above or below this due to rounding differences.