Oxford, Massachusetts Property Taxes
The median property tax rate in Oxford, MA is 1.36%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Oxford, the typical annual property tax bill reaches $4,438, exceeding the national median of $2,690. Property taxes in Oxford 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 Oxford'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 Oxford 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
Oxford, 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 Oxford Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Oxford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oxford to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by Worcester County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Oxford, Massachusetts
Property taxes in Oxford, Massachusetts, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxford is 1.36%, which is higher than the U.S. national median of 0.99%. Local government entities within Oxford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxford 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 Oxford's effective property tax rate to other areas and the national median. For comparison, the ZIP code 01540 has the highest median property tax rate of 1.36%, while the same ZIP code also has the lowest median tax rate of 1.36%. Understanding how these areas compare with Oxford 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 Oxford Tax Rate
1.36%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oxford, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01540 | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Oxford, Massachusetts
In Oxford, 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 Oxford, 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 Oxford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 01540 has the highest and lowest median tax bill, both at $4,438.
Average Oxford Assessed Value
$325,400
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 Oxford, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01540 | $250,940 | $284,400 | $325,400 | $391,925 | $477,000 |
Source: Ownwell
Property Tax Bills Across Oxford, Massachusetts
In Oxford, located in Worcester County, 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 city’s assessor and reflects the market value of the property. Oxford’s property tax rate is applied to this assessed value to determine the annual tax bill. For homeowners, several factors influence the tax bill, including the median home price in Oxford, which stands at $325,400. Tax bills can vary significantly; for instance, the 25th percentile tax bill is $3,879, while the 75th percentile reaches $5,346, and the 90th percentile goes up to $6,506. The highest and lowest median tax bills in the area are both recorded at $4,438 in the zip code 01540. Compared to the national median property tax rate of 0.99%, Oxford homeowners may experience higher or lower tax bills depending on their property’s assessed value and specific circumstances, impacting their annual financial planning and overall cost of living.
Average Oxford Tax Bill
$4,438
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Oxford, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01540 | $3,423 | $3,879 | $4,438 | $5,346 | $6,506 |
Source: Ownwell