Cambridge, Massachusetts Property Taxes
The median property tax rate in Cambridge, MA is 0.59%, considerably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Cambridge at $909,900, the typical annual property tax bill reaches $5,338, far exceeding the national median of $2,690. Property taxes in Cambridge 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 Cambridge'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 Cambridge 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
Cambridge, 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 Cambridge Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Cambridge. By simply entering your property's estimated assessed value, the calculator uses the median tax rate for Cambridge to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed insights, you can scroll down to explore trends at the neighborhood level. Your property’s assessed value, determined by Middlesex County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Cambridge, Massachusetts
Property taxes in Cambridge, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cambridge is 0.59%, which is lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Cambridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cambridge 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 Cambridge's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02142 zip code has the highest median property tax rate of 0.59%, while the 02140 zip code has the lowest median tax rate of 0.59%. Understanding how these areas compare with Cambridge 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 Cambridge Tax Rate
0.59%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cambridge, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02138 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
| 02139 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
| 02140 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
| 02141 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
| 02142 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Cambridge, Massachusetts
In Cambridge, 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. 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 Cambridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 02142 at $6,551, while the lowest median tax bill is in 02141 at $4,587.
Property Tax Assessment Values Across Cambridge, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Cambridge Assessed Value
$909,900
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 Cambridge, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02138 | $517,000 | $669,600 | $1,047,600 | $1,859,575 | $3,022,260 |
| 02139 | $485,500 | $642,100 | $884,800 | $1,375,000 | $1,879,600 |
| 02140 | $505,100 | $674,250 | $947,400 | $1,397,250 | $1,970,080 |
| 02141 | $470,700 | $617,650 | $782,600 | $1,017,400 | $1,332,120 |
| 02142 | $669,000 | $790,400 | $1,117,900 | $1,668,200 | $2,398,740 |
Source: Ownwell
Property Tax Bills Across Cambridge, Massachusetts
In Cambridge, Middlesex County, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's location, size, and market conditions influence the assessed value. For instance, the median home price in Cambridge is $909,900, leading to varying tax bills depending on the specific property's assessed value. Homeowners in Cambridge experience a range of property tax bills. At the 25th percentile, the tax bill is around $3,842, while at the 75th percentile, it rises to approximately $8,567. Those in the 90th percentile can expect to pay about $12,782. Notably, the highest median tax bill in the area is $6,551 in the 02142 zip code, whereas the lowest median tax bill is $4,587 in the 02141 zip code. These tax bills can significantly impact homeowners' financial planning and overall affordability of living in Cambridge.
Average Cambridge Tax Bill
$5,338
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Cambridge, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02138 | $3,030 | $3,924 | $6,140 | $10,897 | $17,711 |
| 02139 | $2,845 | $3,763 | $5,185 | $8,066 | $11,017 |
| 02140 | $2,969 | $3,960 | $5,599 | $8,203 | $11,541 |
| 02141 | $2,758 | $3,620 | $4,587 | $5,962 | $7,806 |
| 02142 | $3,920 | $4,630 | $6,551 | $9,680 | $14,039 |
Source: Ownwell