Foxboro, Massachusetts Property Taxes
The median property tax rate in Foxboro, MA is 1.42%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Foxboro at $490,950, the typical annual property tax bill reaches $6,976, exceeding the national median of $2,690. Property taxes in Foxboro 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 Foxboro'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 Foxboro 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
Foxboro, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$6,971
Ownwell’s Foxboro Property Tax Bill Calculator offers homeowners, real estate investors, and prospective buyers a simple way to estimate annual property taxes in Foxboro with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Foxboro to provide an accurate property tax bill estimate. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed information, you can find localized trends by scrolling down. Your property’s assessed value is determined by Norfolk County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Foxboro, Massachusetts
Property taxes in Foxboro, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Foxboro is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Foxboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Foxboro 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 Foxboro's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02035 zip code has both the highest and lowest median property tax rate of 1.42%. Understanding how these cities compare with Foxboro provides valuable insights into the varying tax landscape across Norfolk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Foxboro Tax Rate
1.42%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Foxboro, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02035 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Foxboro, Massachusetts
In Foxboro, 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 Norfolk 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 Foxboro, 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 Foxboro 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 Foxboro are both $6976 in the 02035 zip code.
Property Tax Assessment Values Across Foxboro, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average Foxboro Assessed Value
$490,950
Average Norfolk County Assessed Value
$592,100
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Foxboro, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02035 | $355,490 | $417,200 | $490,950 | $625,225 | $776,850 |
Source: Ownwell
Property Tax Bills Across Foxboro, Massachusetts
In Foxboro, located in Norfolk County, MA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Foxboro is $490,950, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax amount. Homeowners in Foxboro can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $5,928, while at the 75th percentile, they can reach up to $8,886. For those in the 90th percentile, the tax bill can soar to $11,042. The median tax bill in Foxboro is $6,976, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, making them a critical aspect of community well-being. Understanding this calculation helps homeowners anticipate their financial obligations and plan accordingly.
Average Foxboro Tax Bill
$6,976
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Foxboro, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02035 | $5,053 | $5,928 | $6,976 | $8,886 | $11,042 |
Source: Ownwell