Concord, Massachusetts Property Taxes
The median property tax rate in Concord, MA is 1.30%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Concord at $1,094,700, the typical annual property tax bill reaches $14,207, exceeding the national median of $2,690. Property taxes in Concord 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 Concord'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 Concord 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
Concord, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$14,231
$13,206
Ownwell’s Concord Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Concord with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Concord to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities with ease. For those interested in neighborhood-level trends, scroll down to find more localized information. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Concord, Massachusetts
Property taxes in Concord, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Concord is 1.30%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Concord set these rates annually, and they can vary significantly across different neighborhoods. Each year, Concord 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 Concord's effective property tax rate to other areas in Middlesex County and the national median. For comparison, the zip code 01742 has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these areas compare with Concord 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 Concord Tax Rate
1.30%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Concord, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01742 | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Concord, Massachusetts
In Concord, 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 Concord, 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 Concord helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 01742 in Concord has a median tax bill of $14,207, reflecting the area's high property values.
Property Tax Assessment Values Across Concord, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Concord Assessed Value
$1,094,700
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 Concord, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01742 | $626,340 | $833,350 | $1,094,700 | $1,488,500 | $2,056,420 |
Source: Ownwell
Property Tax Bills Across Concord, Massachusetts
In Concord, Middlesex County, MA, property tax bills are calculated based on the assessed value of a home, which reflects its estimated market value. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions. For instance, the median home price in Concord is $1,094,700. Tax bills in this area can vary significantly, with the 25th percentile at $10,814 and the 75th percentile reaching $19,293. At the 90th percentile, homeowners might see tax bills as high as $26,674. The highest median tax bill in the 01742 zip code is $14,207, which is considerably higher than the national median property tax rate of 0.99%. These property tax bills can significantly impact homeowners, influencing their financial planning and long-term investment decisions. Understanding how these taxes are calculated and the factors involved can help homeowners better prepare for their annual obligations.
Average Concord Tax Bill
$14,207
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Concord, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01742 | $8,139 | $10,814 | $14,207 | $19,293 | $26,674 |
Source: Ownwell