Southborough, Massachusetts Property Taxes
The median property tax rate in Southborough, MA is 1.02%, slightly higher than the national median of 0.99% but lower than the Massachusetts state median of 1.23%. With a median home value of $918,200 in Southborough, the typical annual property tax bill reaches $9,402, significantly surpassing the national median of $2,690. Property taxes in Southborough are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Southborough'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 Southborough 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
Southborough, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$9,366
$8,691
Ownwell’s Southborough Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Southborough. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Southborough to provide an estimate of your property tax bill. This valuable tool offers clarity on potential tax liabilities, helping you make informed decisions. For those interested in more detailed trends at the neighborhood level, you can scroll down to access localized information. Your property’s assessed value, determined by Middlesex County for tax calculations, includes any applicable exemptions, ensuring a comprehensive estimate.
Property Tax Rates Across Southborough, Massachusetts
Property taxes in Southborough, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Southborough is 1.02%, slightly higher than the U.S. national median of 0.99%. Local government entities within Southborough set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southborough 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 Southborough's effective property tax rate to other areas in Middlesex County and the national median. For comparison, the zip code 01772 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 Southborough 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 Southborough 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 Southborough, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01772 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Southborough, Massachusetts
In Southborough, 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 Southborough, 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 Southborough helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $9,402, found in the 01772 zip code, which is significantly higher than the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Southborough, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Southborough Assessed Value
$918,200
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 Southborough, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01772 | $918,200 | $918,200 | $918,200 | $918,200 | $918,200 |
Source: Ownwell
Property Tax Bills Across Southborough, Massachusetts
In Southborough, 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 Southborough is $918,200, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, which is periodically reviewed to reflect market conditions. Homeowners in Southborough face a median property tax bill of $9,402, which is considerably higher than the national median property tax rate of 0.99%. This higher tax bill can significantly impact homeowners, affecting their overall cost of living and financial planning. For instance, a homeowner with a property valued at the median price can expect to pay this amount annually, which underscores the importance of accurate property assessments and potential appeals to ensure a fair tax burden.
Average Southborough Tax Bill
$9,402
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Southborough, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01772 | $9,402 | $9,402 | $9,402 | $9,402 | $9,402 |
Source: Ownwell