Newton Upper Falls, Massachusetts Property Taxes
The median property tax rate in Newton Upper Falls, MA is 1.02%, slightly above the national median of 0.99% but below the Massachusetts state median of 1.23%. With a median home value of $706,400 in Newton Upper Falls, the typical annual property tax bill amounts to $7,192, significantly higher than the national median of $2,690. Property taxes in Newton Upper Falls are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences. Understanding the local property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Newton Upper Falls or another part of the city, familiarizing yourself with the property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newton Upper Falls, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$7,205
$6,686
Ownwell’s Newton Upper Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newton Upper Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton Upper Falls 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 Upper Falls, Massachusetts
Property taxes in Newton Upper Falls, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton Upper Falls is 1.02%, slightly higher than the U.S. national median of 0.99%. Local government entities within Newton Upper Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newton Upper Falls 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 Upper Falls' effective property tax rate to other areas in Middlesex County and the national median. For comparison, the zip code 02464 has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these areas compare with Newton Upper Falls 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 Upper Falls 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 Upper Falls, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02464 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Newton Upper Falls, Massachusetts
In Newton Upper Falls, 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 Newton Upper Falls, 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 Newton Upper Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Newton Upper Falls is $706,400, with median tax bills ranging from $6,046 at the 25th percentile to $11,579 at the 90th percentile. The zip code 02464 has the highest and lowest median tax bill at $7,192.
Property Tax Assessment Values Across Newton Upper Falls, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Newton Upper Falls Assessed Value
$706,400
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 Upper Falls, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02464 | $424,240 | $591,950 | $706,400 | $915,450 | $1,137,440 |
Source: Ownwell
Property Tax Bills Across Newton Upper Falls, Massachusetts
In Newton Upper Falls, Middlesex County, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. Homeowners in Newton Upper Falls face property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is around $6,046, while at the 75th percentile, it rises to $9,320. At the 90th percentile, homeowners can expect to pay approximately $11,579. These tax bills are influenced by the local tax rate and the assessed value of the property. With a median home price of $706,400, the property tax bills in Newton Upper Falls are notably higher than the national median property tax rate of 0.99%. This can place a significant financial burden on homeowners, affecting their overall cost of living and long-term financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Newton Upper Falls Tax Bill
$7,192
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 Upper Falls, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02464 | $4,575 | $6,046 | $7,192 | $9,320 | $11,579 |
Source: Ownwell