Newton, Massachusetts Property Taxes
The median property tax rate in Newton, MA is 1.02%, which is considerably higher than the national median of 0.99% but lower than the Massachusetts state median of 1.23%. With the median home value in Newton at $993,000, the typical annual property tax bill reaches $10,116, significantly exceeding the national median of $2,690. Property taxes in Newton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence exemption. Understanding Newton'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 Newton 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
Newton, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$10,129
$9,399
Ownwell’s Newton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton 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 Newton, Massachusetts
Property taxes in Newton, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton is 1.02%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Newton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newton 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 Newton's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02460 zip code has the highest median property tax rate of 1.02%, while the 02462 zip code has the lowest median tax rate of 1.02%. Understanding how these cities compare with Newton 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 Newton Tax Rate
1.02%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02458 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| 02459 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| 02460 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| 02461 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| 02462 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| 02464 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| 02465 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Newton, Massachusetts
In Newton, 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 authorities 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 Newton, 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. For example, the highest median tax bill in Newton is $11,435 in the 02459 zip code, while the lowest median tax bill is $9,249 in the 02464 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 Newton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Newton, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Newton Assessed Value
$993,000
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 Newton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02458 | $523,390 | $725,650 | $984,300 | $1,364,550 | $1,989,580 |
| 02459 | $752,470 | $932,475 | $1,123,300 | $1,380,575 | $1,615,720 |
| 02460 | $781,140 | $927,100 | $1,057,800 | $1,240,800 | $1,540,720 |
| 02461 | $685,060 | $838,700 | $977,000 | $1,165,300 | $1,462,960 |
| 02462 | $949,140 | $1,024,500 | $1,064,900 | $1,219,000 | $1,238,140 |
| 02464 | $539,920 | $712,200 | $908,500 | $1,089,200 | $1,287,860 |
| 02465 | $671,260 | $810,050 | $929,100 | $1,066,750 | $1,264,620 |
Source: Ownwell
Property Tax Bills Across Newton, Massachusetts
In Newton, located in Middlesex County, MA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is meant to reflect the market value of the property. Homeowners in Newton experience property tax rates that can vary significantly within the city. For instance, the median home price is $993,000, resulting in varying tax bills across different percentiles. At the 25th percentile, the tax bill is approximately $7,785, while at the 75th percentile, it rises to around $13,374. For those in the 90th percentile, the tax bill can reach up to $18,479. The highest median tax bill is found in the 02459 zip code at $11,435, whereas the lowest median tax bill is in the 02464 zip code at $9,249. These figures are notably higher than the national median property tax rate of 0.99%, indicating that homeowners in Newton may face substantial property tax obligations.
Average Newton Tax Bill
$10,116
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Newton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02458 | $5,434 | $7,418 | $10,024 | $13,892 | $20,254 |
| 02459 | $7,696 | $9,493 | $11,435 | $14,054 | $16,448 |
| 02460 | $7,952 | $9,438 | $10,768 | $12,632 | $15,685 |
| 02461 | $6,974 | $8,538 | $9,946 | $11,863 | $14,893 |
| 02462 | $9,662 | $10,429 | $10,841 | $12,409 | $12,604 |
| 02464 | $5,497 | $7,250 | $9,249 | $11,088 | $13,110 |
| 02465 | $6,834 | $8,246 | $9,458 | $10,859 | $12,874 |
Source: Ownwell