Wheelwright, Massachusetts Property Taxes
The median property tax rate in Wheelwright, MA is 1.33%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Wheelwright, the typical annual property tax bill reaches $3,384, exceeding the national median of $2,690. Property taxes in Wheelwright 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 Wheelwright'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 Wheelwright 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
Wheelwright, 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 Wheelwright Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheelwright with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheelwright 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 Worcester County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wheelwright, Massachusetts
Property taxes in Wheelwright, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheelwright is 1.33%, which is higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Wheelwright set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheelwright 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 Wheelwright's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01094 zip code has the highest median property tax rate of 1.33%, while the same 01094 zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Wheelwright 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 Wheelwright Tax Rate
1.33%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheelwright, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01094 | 1.33% | 1.33% | 1.33% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Wheelwright, Massachusetts
In Wheelwright, 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 Wheelwright, 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 Wheelwright helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wheelwright are both $3,384, found in zip code 01094.
Property Tax Assessment Values Across Wheelwright, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Wheelwright Assessed Value
$254,400
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 Wheelwright, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01094 | $221,330 | $236,675 | $254,400 | $310,050 | $339,300 |
Source: Ownwell
Property Tax Bills Across Wheelwright, Massachusetts
In Wheelwright, Worcester County, MA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Wheelwright can expect property tax bills that vary significantly depending on the value of their homes and the specific tax rate applied. For instance, the median home price in Wheelwright is $254,400. The property tax bill at the 25th percentile is $3,148, while at the 75th percentile, it rises to $4,124. At the 90th percentile, homeowners may see tax bills as high as $4,512. These figures highlight the range of tax burdens homeowners may face, influenced by the assessed value of their property and the local tax rates. When compared to the national median property tax rate of 0.99%, Wheelwright's tax bills are notably higher, reflecting the region's specific economic and policy factors. This can significantly impact homeowners' annual expenses and overall financial planning.
Average Wheelwright Tax Bill
$3,384
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheelwright, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01094 | $2,944 | $3,148 | $3,384 | $4,124 | $4,512 |
Source: Ownwell