Groton, Massachusetts Property Taxes
The median property tax rate in Groton, MA is 1.56%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Groton at $594,200, the typical annual property tax bill reaches $9,293, exceeding the national median of $2,690. Property taxes in Groton 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 Groton'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 Groton 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
Groton, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$9,270
Ownwell’s Groton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Groton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Groton 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 Groton, Massachusetts
Property taxes in Groton, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Groton is 1.56%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Groton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Groton 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 Groton's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01450 has the highest median property tax rate of 1.56%, while the same zip code also represents the lowest median tax rate of 1.56%. Understanding how these cities compare with Groton 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 Groton Tax Rate
1.56%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Groton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01450 | 1.56% | 1.56% | 1.56% | 1.56% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Groton, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Groton, MA. 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 local 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 Groton, 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 Groton is $594,200, and understanding these valuation concepts can help property owners navigate their tax responsibilities more effectively. The highest median tax bill is $9,293 in the 01450 zip code, which is also the lowest median tax bill. By understanding these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to manage their tax burden effectively.
Property Tax Assessment Values Across Groton, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Groton Assessed Value
$594,200
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 Groton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01450 | $345,500 | $453,700 | $594,200 | $733,500 | $909,200 |
Source: Ownwell
Property Tax Bills Across Groton, Massachusetts
Property tax bills in Groton, situated in Middlesex County, MA, are determined by a combination of the assessed value of the property and the local tax rate. The assessed value reflects the market value of the home, which in Groton has a median home price of $594,200. This value is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Groton may find their tax bills vary significantly depending on their property's assessed value. For instance, tax bills at the 25th percentile are around $7,096, while those at the 75th percentile reach $11,472, and at the 90th percentile, they can climb to $14,220. These figures are notably higher than the national median property tax rate of 0.99%. The highest and lowest median tax bills in Groton are both recorded at $9,293, highlighting the variability within the area. This variability in tax bills can significantly impact homeowners' annual expenses, influencing their financial planning and property investment decisions.
Average Groton Tax Bill
$9,293
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Groton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01450 | $5,404 | $7,096 | $9,293 | $11,472 | $14,220 |
Source: Ownwell