Stow, Massachusetts Property Taxes
The median property tax rate in Stow, MA is 1.70%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Stow at $685,600, the typical annual property tax bill reaches $11,635, far exceeding the national median of $2,690. Property taxes in Stow 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 Stow'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 Stow 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
Stow, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$11,655
$10,816
Ownwell’s Stow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stow 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 Stow, Massachusetts
Property taxes in Stow, Massachusetts, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Stow is 1.70%, significantly higher than both the Massachusetts state median of 1.23% and the U.S. national median of 0.99%. Local government entities within Stow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stow 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 Stow's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01775 has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Stow 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 Stow Tax Rate
1.70%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stow, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01775 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Stow, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stow, MA. 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 Stow, 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 Stow is $11,635 in the 01775 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 Stow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stow Assessed Value
$685,600
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 Stow, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01775 | $482,280 | $566,600 | $685,600 | $833,700 | $987,040 |
Source: Ownwell
Property Tax Bills Across Stow, Massachusetts
In Stow, 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 Stow is $685,600, and the property tax rate is applied to this value to determine the annual tax bill. Homeowners in Stow can expect a median property tax bill of approximately $11,635, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the assessed value of the property, which is determined by the local assessor's office, and any applicable exemptions or abatements. The tax bill can vary widely; for instance, the 25th percentile tax bill is $9,615, while the 75th percentile tax bill is $14,148, and the 90th percentile tax bill can reach up to $16,750. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Stow.
Average Stow Tax Bill
$11,635
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Stow, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01775 | $8,185 | $9,615 | $11,635 | $14,148 | $16,750 |
Source: Ownwell