Billerica, Massachusetts Property Taxes
The median property tax rate in Billerica, MA is 1.19%, which is notably higher than the national median of 0.99% but slightly lower than the Massachusetts state median of 1.23%. With the median home value in Billerica at $519,800, the typical annual property tax bill reaches $6,170, well above the national median of $2,690. Property taxes in Billerica are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Billerica'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 Billerica 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
Billerica, 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 Billerica Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Billerica with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Billerica 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 Billerica, Massachusetts
Property taxes in Billerica, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Billerica is 1.19%, higher than the U.S. national median of 0.99%. Local government entities within Billerica set these rates annually, and they can vary significantly across different neighborhoods. Each year, Billerica 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 Billerica's effective property tax rate to other areas in Middlesex County and the national median. For comparison, the 01821 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these areas compare with Billerica provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Billerica Tax Rate
1.19%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Billerica, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01821 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Billerica, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Billerica, 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 Middlesex 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 Billerica, 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. For instance, the median home price in Billerica is $519,800, with tax bills ranging from $5,364 at the 25th percentile to $8,239 at the 90th percentile. The zip code 01821 has both the highest and lowest median tax bills, each at $6,170. 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 Billerica, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Billerica Assessed Value
$519,800
Average Middlesex County Assessed Value
$633,600
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Billerica, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01821 | $378,330 | $451,875 | $519,800 | $594,425 | $694,240 |
Source: Ownwell
Property Tax Bills Across Billerica, Massachusetts
Property tax bills in Billerica, located in Middlesex County, MA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessor and represents the estimated market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Billerica, the median home price is $519,800, and property tax bills vary significantly. Homeowners at the 25th percentile pay around $5,364 annually, while those at the 75th percentile face bills of approximately $7,056. At the 90th percentile, the tax bill can reach up to $8,239. The highest and lowest median tax bills in the area are both recorded at $6,170 in the 01821 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure maintenance, directly impacting the quality of life for Billerica residents.
Average Billerica Tax Bill
$6,170
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Billerica, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01821 | $4,490 | $5,364 | $6,170 | $7,056 | $8,239 |
Source: Ownwell