Lowell, Massachusetts Property Taxes
The median property tax rate in Lowell, MA is 1.24%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Lowell at $379,000, the typical annual property tax bill reaches $4,707, exceeding the national median of $2,690. Property taxes in Lowell 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 Lowell'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 Lowell 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
Lowell, 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 Lowell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lowell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lowell 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 Lowell, Massachusetts
Property taxes in Lowell, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lowell is 1.24%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Lowell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lowell 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 Lowell's effective property tax rate to other regions in Massachusetts and the national median. For comparison, the 01852 zip code has the highest median property tax rate of 1.24%, while the 01850 zip code has the lowest median tax rate of 1.24%. Understanding how these areas compare with Lowell 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 Lowell Tax Rate
1.24%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lowell, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01850 | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% |
| 01851 | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% |
| 01852 | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% |
| 01854 | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Lowell, Massachusetts
In Lowell, 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 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. Assessment notices in Lowell 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 highest median tax bill in Lowell is $4,982 in the 01851 zip code, while the lowest is $4,294 in the 01850 zip code. 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 Lowell, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Lowell Assessed Value
$379,000
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 Lowell, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01850 | $205,880 | $271,400 | $345,700 | $419,500 | $504,620 |
| 01851 | $256,500 | $343,900 | $401,100 | $476,375 | $565,010 |
| 01852 | $203,500 | $287,900 | $378,900 | $468,300 | $564,660 |
| 01854 | $195,560 | $270,700 | $369,800 | $456,650 | $534,500 |
Source: Ownwell
Property Tax Bills Across Lowell, Massachusetts
In Lowell, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is an estimate of the property's market value, determined by city assessors. Several factors contribute to this assessed value, including the property's size, location, and condition. Homeowners in Lowell experience a range of property tax bills, with the 25th percentile paying around $3,651, while those in the 75th percentile see bills closer to $5,718. The highest median tax bill in the area is $4,982, found in the 01851 zip code, whereas the lowest is $4,294 in the 01850 zip code. These figures are higher than the national median property tax rate of 0.99%, reflecting the higher home values in the region. Property taxes significantly impact homeowners, influencing their overall housing costs and potentially affecting their ability to afford and maintain their homes.
Average Lowell Tax Bill
$4,707
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Lowell, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01850 | $2,557 | $3,371 | $4,294 | $5,210 | $6,267 |
| 01851 | $3,186 | $4,271 | $4,982 | $5,917 | $7,017 |
| 01852 | $2,532 | $3,576 | $4,707 | $5,816 | $7,014 |
| 01854 | $2,429 | $3,362 | $4,593 | $5,674 | $6,638 |
Source: Ownwell