Jefferson, Massachusetts Property Taxes
The median property tax rate in Jefferson, MA is 1.50%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Jefferson, the typical annual property tax bill reaches $5,782, exceeding the national median of $2,690. Property taxes in Jefferson 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 Jefferson'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 Jefferson 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
Jefferson, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$5,786
Ownwell’s Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, Massachusetts
Property taxes in Jefferson, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 1.50%, higher than the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the 01522 zip code has the highest median property tax rate of 1.50%, while the 01522 zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Worcester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
1.50%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01522 | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, Massachusetts
In Jefferson, 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 Worcester 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 Jefferson, 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 here is $385,700, with tax bills ranging from $4,662 at the 25th percentile to $8,666 at the 90th percentile. 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Jefferson, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Jefferson Assessed Value
$385,700
Average Worcester County Assessed Value
$360,000
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01522 | $249,980 | $311,000 | $385,700 | $481,600 | $578,120 |
Source: Ownwell
Property Tax Bills Across Jefferson, Massachusetts
Property tax bills in Jefferson, Worcester County, Massachusetts, are determined based on the assessed value of a property and the local tax rate. The assessed value is an estimate of the property's market value, which is periodically evaluated by local assessors. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the annual tax bill. In Jefferson, the median home price is $385,700, and property tax bills can vary significantly. For example, homeowners in the 25th percentile can expect to pay around $4,662 annually, while those in the 75th percentile may face bills as high as $7,219. At the 90th percentile, the tax bill can reach up to $8,666. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. While the national median property tax rate is 0.99%, Jefferson's rates reflect the specific needs and budgetary requirements of the local community.
Average Jefferson Tax Bill
$5,782
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01522 | $3,747 | $4,662 | $5,782 | $7,219 | $8,666 |
Source: Ownwell