Maynard, Massachusetts Property Taxes
The median property tax rate in Maynard, MA is 1.90%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Maynard at $430,300, the typical annual property tax bill reaches $8,162, exceeding the national median of $2,690. Property taxes in Maynard are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Maynard'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 Maynard or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maynard, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.9%
Estimate Property Tax Bill
$8,176
Ownwell’s Maynard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maynard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maynard 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 Maynard, Massachusetts
Property taxes in Maynard, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maynard is 1.90%, significantly higher than the U.S. national median of 0.99%. Local government entities within Maynard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maynard 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 Maynard's effective property tax rate to other areas in Middlesex County and the national median. For comparison, the 01754 zip code in Maynard has the highest median property tax rate of 1.90%, while the same zip code also has the lowest median tax rate of 1.90%. Understanding how these figures compare with Maynard 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 Maynard Tax Rate
1.90%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maynard, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01754 | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Maynard, Massachusetts
In Maynard, 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 Maynard, 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 Maynard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Maynard are both $8,162, with the zip code 01754.
Property Tax Assessment Values Across Maynard, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Maynard Assessed Value
$430,300
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 Maynard, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01754 | $347,500 | $379,050 | $430,300 | $494,300 | $571,640 |
Source: Ownwell
Property Tax Bills Across Maynard, Massachusetts
In Maynard, located in Middlesex County, MA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value, taking into account factors like location, size, and condition. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Maynard, the property tax rate significantly impacts their finances. The median home price in Maynard is $430,300, and the property tax bill can vary widely. At the lower end, the 25th percentile tax bill is around $7,190, while the 75th percentile is $9,372, and the 90th percentile reaches $10,842. Compared to the national median property tax rate of 0.99%, homeowners in Maynard often pay higher property taxes, reflecting the region's higher property values and tax rates. This can affect homeowners by increasing their annual expenses and influencing their decisions about buying or selling property.
Average Maynard Tax Bill
$8,162
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Maynard, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01754 | $6,592 | $7,190 | $8,162 | $9,372 | $10,842 |
Source: Ownwell