Saugus, Massachusetts Property Taxes
The median property tax rate in Saugus, MA is 1.13%, which is considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Saugus at $520,200, the typical annual property tax bill reaches $5,857, significantly exceeding the national median of $2,690. Property taxes in Saugus 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 Saugus'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 Saugus 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
Saugus, 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 Saugus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saugus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saugus 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 Saugus, Massachusetts
Property taxes in Saugus, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saugus is 1.13%, higher than the U.S. national median of 0.99%. Local government entities within Saugus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saugus 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 Saugus's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01906 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Saugus provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saugus Tax Rate
1.13%
Average Essex County Tax Rate
1.12%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saugus, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01906 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Saugus, Massachusetts
In Saugus, 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 Essex 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 Saugus, 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 Saugus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Saugus, the median home price is $520,200, with the 25th percentile tax bill at $5,243 and the 75th percentile tax bill at $6,900. The highest and lowest median tax bills, both at $5,857, are found in zip code 01906.
Property Tax Assessment Values Across Saugus, Massachusetts
Source: Ownwell
$258,000
$802,500
$1,347,000
Average Saugus Assessed Value
$520,200
Average Essex County Assessed Value
$545,500
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saugus, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01906 | $421,660 | $465,700 | $520,200 | $612,850 | $746,500 |
Source: Ownwell
Property Tax Bills Across Saugus, Massachusetts
In Saugus, Essex County, MA, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is an estimation of the property's market value, which is recalculated periodically to reflect changes in the market. Homeowners in Saugus experience property tax bills that vary significantly, with the 25th percentile at $5,243 and the 75th percentile reaching $6,900, demonstrating a range influenced by property values and specific assessments. The median home price in Saugus is $520,200, which influences the overall tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Saugus homeowners often face higher tax bills. For example, the highest median tax bill in the area is $5,857, which is considerably above the national median. These property taxes fund essential local services such as education, public safety, and infrastructure, directly impacting the community's quality of life. Consequently, understanding how property taxes are calculated can help homeowners in Saugus better manage their financial planning and expectations.
Average Saugus Tax Bill
$5,857
Average Essex County Tax Bill
$6,145
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Saugus, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01906 | $4,747 | $5,243 | $5,857 | $6,900 | $8,406 |
Source: Ownwell