Lincoln, Massachusetts Property Taxes
The median property tax rate in Lincoln, MA is 1.39%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Lincoln at $1,118,600, the typical annual property tax bill reaches $15,566, significantly exceeding the national median of $2,690. Property taxes in Lincoln are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lincoln'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 Lincoln 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
Lincoln, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$15,549
$14,429
Ownwell’s Lincoln Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincoln with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincoln 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 Lincoln, Massachusetts
Property taxes in Lincoln, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln is 1.39%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Lincoln set these rates annually, and they can vary considerably across different neighborhoods. Each year, Lincoln 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. Understanding how Lincoln's effective property tax rate compares to other areas 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 Lincoln Tax Rate
1.39%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01773 | 1.39% | 1.39% | 1.39% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln, Massachusetts
In Lincoln, 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 Lincoln, 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 Lincoln is $1,118,600, with tax bills ranging from $10,700 at the 25th percentile to $26,953 at the 90th percentile. Lincoln's highest and lowest median tax bills are both $15,566 in the 01773 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 Lincoln, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Lincoln Assessed Value
$1,118,600
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 Lincoln, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01773 | $476,400 | $773,275 | $1,118,600 | $1,484,625 | $1,941,900 |
Source: Ownwell
Property Tax Bills Across Lincoln, Massachusetts
In Lincoln, Middlesex County, MA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value, reflecting current real estate trends. Homeowners in Lincoln face a median property tax bill of $15,566, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For instance, the 25th percentile tax bill in Lincoln is $10,700, while the 75th percentile reaches $20,633, and the 90th percentile soars to $26,953. These figures highlight the variability based on property characteristics. High property taxes can impact homeowners by increasing annual expenses, but they also contribute to local services and infrastructure. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Lincoln Tax Bill
$15,566
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01773 | $6,625 | $10,700 | $15,566 | $20,633 | $26,953 |
Source: Ownwell