Boxboro, Massachusetts Property Taxes
The median property tax rate in Boxboro, MA is 1.55%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Boxboro at $630,200, the typical annual property tax bill reaches $9,781, far exceeding the national median of $2,690. Property taxes in Boxboro 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 Boxboro'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 Boxboro 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
Boxboro, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$9,768
Ownwell’s Boxboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boxboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boxboro 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 Boxboro, Massachusetts
Property taxes in Boxboro, Massachusetts, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Boxboro is 1.55%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Boxboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boxboro 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 Boxboro's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01719 zip code has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Boxboro 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 Boxboro Tax Rate
1.55%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boxboro, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01719 | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Boxboro, Massachusetts
In Boxboro, 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 Boxboro, 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 Boxboro is $630,200, with the highest and lowest median tax bills both recorded at $9,781 in the 01719 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 Boxboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Boxboro, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Boxboro Assessed Value
$630,200
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 Boxboro, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01719 | $630,200 | $630,200 | $630,200 | $630,200 | $630,200 |
Source: Ownwell
Property Tax Bills Across Boxboro, Massachusetts
In Boxboro, 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 local tax assessor and reflects the estimated market value of the property. Homeowners in Boxboro, part of Middlesex County, experience a median property tax bill of $9,781, which is significantly higher than the national median property tax rate of 0.99%. This high tax bill can be attributed to the relatively high median home price of $630,200 in the area. Several factors contribute to the determination of the tax bill, including property size, location, and any improvements made to the home. Tax rates can vary annually based on the budgetary needs of the local government and public services. For homeowners, this means that property taxes can have a substantial impact on their annual expenses, potentially affecting their financial planning and home affordability. Understanding how these taxes are calculated can help residents better anticipate and manage their property-related costs.
Average Boxboro Tax Bill
$9,781
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Boxboro, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01719 | $9,781 | $9,781 | $9,781 | $9,781 | $9,781 |
Source: Ownwell