Bedford, Massachusetts Property Taxes
The median property tax rate in Bedford, MA is 1.25%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Bedford at $730,200, the typical annual property tax bill reaches $9,113, exceeding the national median of $2,690. Property taxes in Bedford 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 Bedford'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 Bedford 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
Bedford, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$9,128
$8,470
Ownwell’s Bedford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bedford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bedford 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 Bedford, Massachusetts
Property taxes in Bedford, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bedford is 1.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bedford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bedford 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 Bedford's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01730 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Bedford provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bedford Tax Rate
1.25%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bedford, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01730 | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Bedford, Massachusetts
In Bedford, 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 Middlesex 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 Bedford, 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. The median home price in Bedford is $730,200, with the 25th percentile tax bill at $7,778 and the 75th percentile tax bill at $11,138. The highest and lowest median tax bills both stand at $9,113 in the 01730 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bedford, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Bedford Assessed Value
$730,200
Average Middlesex County Assessed Value
$633,600
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bedford, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01730 | $539,900 | $623,250 | $730,200 | $892,600 | $1,217,940 |
Source: Ownwell
Property Tax Bills Across Bedford, Massachusetts
In Bedford, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Various factors influence the assessed value, including the home's market value, its location, and any improvements or renovations made to the property. For homeowners in Bedford, the median home price is $730,200. The property tax bill can vary significantly; for instance, the 25th percentile tax bill is $7,778, while the 75th percentile tax bill reaches $11,138. At the 90th percentile, homeowners can expect to pay around $15,200. The median tax bill in Bedford is notably higher than the national median property tax rate of 0.99%, reflecting the higher property values and tax rates in the area. This substantial tax obligation can affect homeowners' finances, influencing decisions on home purchases and investments. Understanding these factors is crucial for homeowners to budget effectively and plan for their financial future.
Average Bedford Tax Bill
$9,113
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Bedford, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01730 | $6,738 | $7,778 | $9,113 | $11,138 | $15,200 |
Source: Ownwell