Winthrop, Massachusetts Property Taxes
The median property tax rate in Winthrop, MA is 1.07%, slightly higher than the national median of 0.99% but lower than the Massachusetts state median of 1.23%. With a median home value of $592,800 in Winthrop, the typical annual property tax bill reaches $6,343, significantly exceeding the national median of $2,690. Property taxes in Winthrop are calculated based on the tax assessed value, which is usually lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Winthrop's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Winthrop 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
Winthrop, 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 Winthrop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winthrop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winthrop 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 Winthrop, Massachusetts
Property taxes in Winthrop, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winthrop is 1.07%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Winthrop set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winthrop 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 Winthrop's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02152 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Winthrop provides valuable insights into the varying tax landscape across Suffolk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winthrop Tax Rate
1.07%
Average Suffolk County Tax Rate
1.07%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winthrop, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02152 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Winthrop, Massachusetts
In Winthrop, 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 Suffolk 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 Winthrop, 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 Winthrop is $592,800, with tax bills ranging from $5,017 at the 25th percentile to $8,932 at the 90th percentile. The highest and lowest median tax bills both stand at $6,343 in the 02152 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 Winthrop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Winthrop, Massachusetts
Source: Ownwell
$84,600
$1,690,350
$3,296,100
Average Winthrop Assessed Value
$592,800
Average Suffolk County Assessed Value
$641,300
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winthrop, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02152 | $292,900 | $468,875 | $592,800 | $715,625 | $834,810 |
Source: Ownwell
Property Tax Bills Across Winthrop, Massachusetts
In Winthrop, Suffolk County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the town’s assessor, who evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and any improvements or renovations can influence the assessed value. For homeowners in Winthrop, the median home price is $592,800, resulting in varying tax bills. The 25th percentile tax bill is $5,017, while the 75th percentile tax bill reaches $7,657. At the 90th percentile, homeowners can expect to pay around $8,932. The highest and lowest median tax bills in the area are both $6,343, falling within the zip code 02152. These property taxes can significantly impact homeowners, influencing monthly budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, Winthrop homeowners experience a relatively higher tax burden, reflecting the area's property values and local tax policies.
Average Winthrop Tax Bill
$6,343
Average Suffolk County Tax Bill
$6,836
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Winthrop, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02152 | $3,134 | $5,017 | $6,343 | $7,657 | $8,932 |
Source: Ownwell