Randolph, Massachusetts Property Taxes
The median property tax rate in Randolph, MA, is 1.21%, slightly higher than the national median of 0.99% but just below the Massachusetts state median of 1.23%. With the median home value in Randolph at $441,750, the typical annual property tax bill reaches $5,337, significantly exceeding the national median of $2,690. Property taxes in Randolph 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 Randolph'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 Randolph 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
Randolph, 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 Randolph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph 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 Randolph, Massachusetts
Property taxes in Randolph, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph is 1.21%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph 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 Randolph's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02368 zip code has the highest median property tax rate of 1.21%, while the 02368 zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Randolph provides valuable insights into the varying tax landscape across Norfolk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Randolph Tax Rate
1.21%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02368 | 1.21% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Randolph, Massachusetts
In Randolph, 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 Norfolk 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 Randolph, 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. For example, the median home price in Randolph is $441,750, with tax bills ranging from $4,723 at the 25th percentile to $7,042 at the 90th percentile. The highest and lowest median tax bills are both $5,337 in the 02368 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 Randolph helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Randolph, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average Randolph Assessed Value
$441,750
Average Norfolk County Assessed Value
$592,100
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Randolph, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02368 | $322,040 | $391,000 | $441,750 | $503,500 | $582,930 |
Source: Ownwell
Property Tax Bills Across Randolph, Massachusetts
Property tax bills in Randolph, located in Norfolk County, MA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the market value of the property. This value is then multiplied by the local tax rate to calculate the annual property tax bill. In Randolph, homeowners can expect a wide range of tax bills. For instance, the tax bill at the 25th percentile is $4,723, while at the 75th percentile, it is $6,085. The 90th percentile tax bill reaches up to $7,042. These variations reflect the differences in property values and the specific characteristics of each property. The impact on homeowners can be significant, especially when compared to the national median property tax rate of 0.99%. Higher property tax bills can affect household budgets and the overall cost of homeownership in Randolph, making it crucial for homeowners to understand how their property taxes are calculated and what they can expect to pay.
Average Randolph Tax Bill
$5,337
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02368 | $3,892 | $4,723 | $5,337 | $6,085 | $7,042 |
Source: Ownwell