Nutting Lake, Massachusetts Property Taxes
The median property tax rate in Nutting Lake, MA is 1.19%, considerably higher than the national median of 0.99% but slightly lower than the Massachusetts state median of 1.23%. With the median home value in Nutting Lake at $374,100, the typical annual property tax bill reaches $4,441, significantly exceeding the national median of $2,690. Property taxes in Nutting Lake 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 Nutting Lake'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 Nutting Lake 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
Nutting Lake, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$4,452
$4,131
Ownwell’s Nutting Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nutting Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nutting Lake 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 Nutting Lake, Massachusetts
Property taxes in Nutting Lake, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nutting Lake is 1.19%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Nutting Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nutting Lake 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 Nutting Lake's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01865 zip code has the highest median property tax rate of 1.19%, while the 01865 zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Nutting Lake 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 Nutting Lake 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 Nutting Lake, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01865 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Nutting Lake, Massachusetts
In Nutting Lake, 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 Nutting Lake, 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 Nutting Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Nutting Lake's median home price is $374,100, with the highest and lowest median tax bills both recorded at $4,441 in the 01865 zip code.
Property Tax Assessment Values Across Nutting Lake, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Nutting Lake Assessed Value
$374,100
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 Nutting Lake, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01865 | $367,220 | $369,800 | $374,100 | $390,850 | $400,900 |
Source: Ownwell
Property Tax Bills Across Nutting Lake, Massachusetts
In Nutting Lake, located in Middlesex County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Nutting Lake is $374,100, which plays a significant role in determining the tax bill. Tax authorities assess the market value of a property to establish its taxable value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the home's size, location, and condition, as well as comparable property sales in the area. In Nutting Lake, property tax bills can vary, with the 25th percentile tax bill at $4,390 and the 75th percentile at $4,640. The 90th percentile tax bill reaches $4,759. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the region's higher property values. For homeowners, understanding these factors is crucial as they directly impact annual expenses and long-term financial planning.
Average Nutting Lake Tax Bill
$4,441
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Nutting Lake, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01865 | $4,359 | $4,390 | $4,441 | $4,640 | $4,759 |
Source: Ownwell