Charlton, Massachusetts Property Taxes
The median property tax rate in Charlton, MA is 1.13%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Charlton at $416,300, the typical annual property tax bill reaches $4,722, significantly exceeding the national median of $2,690. Property taxes in Charlton 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 Charlton'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 Charlton or another part of Worcester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Charlton, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$4,704
Ownwell’s Charlton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charlton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charlton 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 Charlton, Massachusetts
Property taxes in Charlton, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlton is 1.13%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Charlton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlton 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 Charlton's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01507 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Charlton provides valuable insights into the varying tax landscape across Worcester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlton Tax Rate
1.13%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01507 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Charlton, Massachusetts
In Charlton, 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 Worcester 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 Charlton, 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 Charlton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Charlton is $4,722 in the 01507 zip code, while the lowest median tax bill is also $4,722 in the same zip code.
Property Tax Assessment Values Across Charlton, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Charlton Assessed Value
$416,300
Average Worcester County Assessed Value
$360,000
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01507 | $271,200 | $331,000 | $416,300 | $517,100 | $608,000 |
Source: Ownwell
Property Tax Bills Across Charlton, Massachusetts
In Charlton, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value. This assessed value is then multiplied by the tax rate set by local authorities to calculate the annual tax bill. Homeowners in Charlton can expect a median property tax bill of $4,722, which is significantly higher than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements are considered in the assessment process. For instance, properties in the 25th percentile have tax bills around $3,754, while those in the 75th percentile see bills closer to $5,864, and in the 90th percentile, bills can reach up to $6,895. This system ensures that homeowners contribute fairly to local services and infrastructure based on their property's value, but it also means that higher-valued properties face higher tax bills.
Average Charlton Tax Bill
$4,722
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01507 | $3,075 | $3,754 | $4,722 | $5,864 | $6,895 |
Source: Ownwell