South Lancaster, Massachusetts Property Taxes
The median property tax rate in South Lancaster, MA is 1.73%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in South Lancaster at $427,050, the typical annual property tax bill reaches $7,372, exceeding the national median of $2,690. Property taxes in South Lancaster 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 South Lancaster'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 South Lancaster 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
South Lancaster, 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 South Lancaster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Lancaster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Lancaster 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 South Lancaster, Massachusetts
Property taxes in South Lancaster, MA, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in South Lancaster is 1.73%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within South Lancaster set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Lancaster 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 South Lancaster's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01561 zip code has the highest median property tax rate of 1.73%, while the 01561 zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with South Lancaster 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 South Lancaster Tax Rate
1.73%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Lancaster, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01561 | 1.72% | 1.72% | 1.73% | 1.73% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across South Lancaster, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in South Lancaster, Massachusetts. 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 South Lancaster, 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. South Lancaster's median home price is $427,050, with tax bills ranging from $6,182 at the 25th percentile to $9,274 at the 90th percentile. The highest and lowest median tax bills are both $7,372, found in the 01561 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across South Lancaster, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average South Lancaster Assessed Value
$427,050
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 South Lancaster, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01561 | $314,930 | $356,975 | $427,050 | $497,125 | $539,170 |
Source: Ownwell
Property Tax Bills Across South Lancaster, Massachusetts
In South Lancaster, 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 local government assessors who evaluate the property's market value, considering factors such as location, size, and condition. For instance, with a median home price of $427,050, homeowners can expect their tax bill to be influenced by this valuation. The local tax rate is applied to the assessed value to determine the annual tax bill. In South Lancaster, the 25th percentile tax bill is $6,182, while the 75th percentile reaches $8,561, and the 90th percentile peaks at $9,274. These figures illustrate a range of tax burdens based on varying property values within the area. The highest and lowest median tax bills in the region are both $7,372, highlighting a consistent tax rate across different properties. Homeowners in South Lancaster thus face a property tax rate that can significantly impact their annual expenses, with the local tax rate being a crucial determinant of their financial obligations.
Average South Lancaster Tax Bill
$7,372
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across South Lancaster, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01561 | $5,469 | $6,182 | $7,372 | $8,561 | $9,274 |
Source: Ownwell