Sharon, Massachusetts Property Taxes
The median property tax rate in Sharon, MA is 1.86%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Sharon at $623,600, the typical annual property tax bill reaches $11,596, significantly exceeding the national median of $2,690. Property taxes in Sharon 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 Sharon'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 Sharon 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
Sharon, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$11,599
Ownwell’s Sharon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sharon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sharon 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 Sharon, Massachusetts
Property taxes in Sharon, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sharon is 1.86%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Sharon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sharon 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. Understanding how these cities compare with Sharon 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 Sharon Tax Rate
1.86%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sharon, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02067 | 1.86% | 1.86% | 1.86% | 1.86% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Sharon, Massachusetts
In Sharon, 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 Sharon, 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. Sharon's median home price is $623,600, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $9,704, while the 75th percentile tax bill is $14,550, and the 90th percentile tax bill is $17,143. The highest and lowest median tax bills are both $11,596, found in the 02067 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sharon, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average Sharon Assessed Value
$623,600
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 Sharon, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02067 | $452,010 | $522,000 | $623,600 | $782,500 | $922,730 |
Source: Ownwell
Property Tax Bills Across Sharon, Massachusetts
In Sharon, located in Norfolk County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Sharon is $623,600, which significantly influences the tax bill. The assessed value reflects the market value of the property, and the local tax rate is applied to this value to determine the annual tax bill. Homeowners in Sharon can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is $9,704, while the 75th percentile reaches $14,550. At the 90th percentile, it can be as high as $17,143. The highest median tax bill in the area is $11,596, which is consistent across the zip code 02067. These tax bills are considerably higher than the national median property tax rate of 0.99%, reflecting the higher property values and tax rates in the region. Consequently, homeowners in Sharon need to account for these substantial property tax expenses when budgeting for homeownership.
Average Sharon Tax Bill
$11,596
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Sharon, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02067 | $8,405 | $9,704 | $11,596 | $14,550 | $17,143 |
Source: Ownwell