Dracut, Massachusetts Property Taxes
The median property tax rate in Dracut, MA is 1.16%, which is considerably higher than the national median of 0.99% but slightly below the Massachusetts state median of 1.23%. With the median home value in Dracut at $400,300, the typical annual property tax bill reaches $4,635, far exceeding the national median of $2,690. Property taxes in Dracut are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Dracut's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Dracut or another part of Middlesex County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dracut, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$4,643
Ownwell’s Dracut Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dracut with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dracut to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Dracut, Massachusetts
Property taxes in Dracut, Massachusetts, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Dracut is 1.16%, which is higher than the U.S. national median of 0.99%. Local government entities within Dracut set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dracut estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Dracut's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01826 has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Dracut provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dracut Tax Rate
1.16%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dracut, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01826 | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Dracut, Massachusetts
In Dracut, Massachusetts, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Middlesex County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Dracut, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Dracut helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Dracut, both at $4,635, are found in the 01826 zip code.
Property Tax Assessment Values Across Dracut, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Dracut Assessed Value
$400,300
Average Middlesex County Assessed Value
$633,600
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dracut, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01826 | $235,000 | $324,400 | $400,300 | $503,850 | $621,900 |
Source: Ownwell
Property Tax Bills Across Dracut, Massachusetts
In Dracut, located in Middlesex County, MA, property tax bills are calculated based on the assessed value of a home combined with the local tax rate. The median home price in Dracut is $400,300, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions also influence the assessed value. Homeowners in Dracut can expect their property tax bills to vary significantly. The 25th percentile tax bill is $3,757, while the 75th percentile reaches $5,834. For those in the 90th percentile, tax bills soar to $7,202. The median tax bill in the zip code 01826, which covers Dracut, is $4,635. Compared to the national median property tax rate of 0.99%, Dracut's property taxes can be relatively high. These taxes are essential for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Dracut Tax Bill
$4,635
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Dracut, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01826 | $2,721 | $3,757 | $4,635 | $5,834 | $7,202 |
Source: Ownwell