Norton, Massachusetts Property Taxes
The median property tax rate in Norton, MA is 1.30%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Norton, the typical annual property tax bill reaches $5,552, exceeding the national median of $2,690. Property taxes in Norton 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 Norton’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 Norton 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
Norton, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$5,548
Ownwell’s Norton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Norton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norton 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 Norton, Massachusetts
Property taxes in Norton, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norton is 1.30%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Norton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norton 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 Norton's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02766 zip code has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Norton provides valuable insights into the varying tax landscape across Bristol County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Norton Tax Rate
1.30%
Average Bristol County Tax Rate
1.27%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02766 | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Norton, Massachusetts
In Norton, 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 Bristol 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 Norton, 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. The median home price in Norton stands at $426,800, with tax bills ranging from $4,571 at the 25th percentile to $8,620 at the 90th percentile. The highest and lowest median tax bills both amount to $5,552 in the 02766 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 in Norton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Norton Assessed Value
$426,800
Average Bristol County Assessed Value
$384,800
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Norton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02766 | $280,900 | $351,400 | $426,800 | $537,600 | $663,060 |
Source: Ownwell
Property Tax Bills Across Norton, Massachusetts
In Norton, located in Bristol County, MA, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is an estimate of the market value of the property, which is periodically updated to reflect changes in the real estate market. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the size of the property, its location, and any improvements or renovations made. For homeowners in Norton, the median home price stands at $426,800. Consequently, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $4,571, while the 75th percentile tax bill reaches $6,993. At the higher end, the 90th percentile tax bill is $8,620. Compared to the national median property tax rate of 0.99%, homeowners in Norton may find their property tax bills to be relatively higher, impacting their overall housing costs and financial planning.
Average Norton Tax Bill
$5,552
Average Bristol County Tax Bill
$4,707
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Norton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02766 | $3,662 | $4,571 | $5,552 | $6,993 | $8,620 |
Source: Ownwell