Dedham, Massachusetts Property Taxes
The median property tax rate in Dedham, MA is 1.07%, which is higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Dedham at $625,800, the typical annual property tax bill reaches $6,721, significantly exceeding the national median of $2,690. Property taxes in Dedham are calculated based on the assessed value, which usually falls below the market value due to various exemptions such as the primary residence exemption. Understanding Dedham'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 Dedham 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
Dedham, Massachusetts Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$2,460
Ownwell’s Dedham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dedham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dedham 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 Dedham, Massachusetts
Property taxes in Dedham, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dedham is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Dedham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dedham 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 Dedham's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02026 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Dedham provides valuable insights into the varying tax landscape across Suffolk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dedham Tax Rate
1.07%
Average Suffolk County Tax Rate
1.07%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dedham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02026 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Dedham, Massachusetts
In Dedham, Massachusetts, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 county 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 Dedham, 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 Dedham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 02026, with a median tax bill of $6,721.
Property Tax Assessment Values Across Dedham, Massachusetts
Source: Ownwell
$84,600
$1,690,350
$3,296,100
Average Dedham Assessed Value
$625,800
Average Suffolk County Assessed Value
$641,300
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dedham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02026 | $618,600 | $621,300 | $625,800 | $649,950 | $664,440 |
Source: Ownwell
Property Tax Bills Across Dedham, Massachusetts
In Dedham, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and reflects the property's fair market value. For homeowners in Dedham, the median home price stands at $625,800, which significantly influences the tax bill. The local tax rate is applied to this assessed value to calculate the annual property tax bill. Several factors contribute to the final tax bill, including property size, location, and any improvements or renovations made to the home. Homeowners in Dedham can expect their property tax bills to range widely, with the 25th percentile at $6,672 and the 90th percentile reaching $7,136. This range illustrates how varying property values and assessments impact individual tax obligations. Compared to the national median property tax rate of 0.99%, Dedham's property taxes reflect the higher property values in the area, resulting in comparatively higher tax bills for homeowners.
Average Dedham Tax Bill
$6,721
Average Suffolk County Tax Bill
$6,836
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Dedham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02026 | $6,643 | $6,672 | $6,721 | $6,980 | $7,136 |
Source: Ownwell