North Oxford, Massachusetts Property Taxes
The median property tax rate in North Oxford, MA is 1.36%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in North Oxford at $288,300, the typical annual property tax bill reaches $3,932, exceeding the national median of $2,690. Property taxes in North Oxford 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 North Oxford'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 North Oxford 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
North Oxford, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$3,921
Ownwell’s North Oxford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Oxford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Oxford 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 North Oxford, Massachusetts
Property taxes in North Oxford, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Oxford is 1.36%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within North Oxford set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Oxford 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 North Oxford's effective property tax rate to other areas in Worcester County and the national median. For comparison, the 01537 zip code has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these figures compare with North Oxford 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 North Oxford Tax Rate
1.36%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Oxford, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01537 | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across North Oxford, Massachusetts
In North Oxford, 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 North Oxford, 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. 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 North Oxford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $288,300, with the 25th percentile tax bill at $3,201 and the 75th percentile at $4,830. Notably, the highest and lowest median tax bills are both $3,932 in the 01537 zip code.
Property Tax Assessment Values Across North Oxford, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average North Oxford Assessed Value
$288,300
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 North Oxford, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01537 | $136,600 | $234,700 | $288,300 | $354,125 | $451,250 |
Source: Ownwell
Property Tax Bills Across North Oxford, Massachusetts
In North Oxford, located in Worcester County, MA, property tax bills are calculated based on the assessed value of a home rather than its market value. The local tax rate is applied to the assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's size, age, location, and any improvements made. Homeowners in North Oxford can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $3,201, while the 75th percentile reaches up to $4,830. At the 90th percentile, homeowners might see tax bills as high as $6,155. Comparatively, the median home price in North Oxford is $288,300, which is relatively modest but still results in substantial tax obligations. The highest median tax bill in North Oxford is $3,932, and interestingly, this is also the lowest median tax bill, indicating a consistent tax rate across the area. Homeowners must account for these tax bills in their annual budgeting, as they can significantly impact overall housing costs.
Average North Oxford Tax Bill
$3,932
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across North Oxford, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01537 | $1,863 | $3,201 | $3,932 | $4,830 | $6,155 |
Source: Ownwell