North Billerica, Massachusetts Property Taxes
The median property tax rate in North Billerica, MA is 1.19%, which is higher than the national median of 0.99% but slightly lower than the Massachusetts state median of 1.23%. With a median home value of $521,300 in North Billerica, the typical annual property tax bill amounts to $6,188, significantly surpassing the national median of $2,690. Property taxes in North Billerica are based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding North Billerica's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of North Billerica or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Billerica, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$6,203
$5,757
Ownwell’s NORTH BILLERICA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NORTH BILLERICA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NORTH BILLERICA 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 North Billerica, Massachusetts
Property taxes in North Billerica, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Billerica is 1.19%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within North Billerica set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Billerica 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 North Billerica's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01862 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with North Billerica 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 North Billerica Tax Rate
1.19%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Billerica, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01862 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across North Billerica, Massachusetts
In North Billerica, 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 North Billerica, 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 North Billerica helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in North Billerica are both $6,188, found in the 01862 zip code.
Property Tax Assessment Values Across North Billerica, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average North Billerica Assessed Value
$521,300
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 North Billerica, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01862 | $385,200 | $457,700 | $521,300 | $601,500 | $732,000 |
Source: Ownwell
Property Tax Bills Across North Billerica, Massachusetts
In North Billerica, Middlesex County, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor and reflects the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in North Billerica, the median home price is $521,300, which significantly influences the tax bill. Property tax bills in this area can vary widely. For instance, at the 25th percentile, the tax bill is $5,433, while at the 75th percentile, it reaches $7,140. At the 90th percentile, homeowners might pay as much as $8,690 annually. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, North Billerica's tax bills reflect the region's property values and local funding needs.
Average North Billerica Tax Bill
$6,188
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across North Billerica, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01862 | $4,571 | $5,433 | $6,188 | $7,140 | $8,690 |
Source: Ownwell