Tewksbury, Massachusetts Property Taxes
The median property tax rate in Tewksbury, MA is 1.34%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Tewksbury at $552,650, the typical annual property tax bill reaches $7,399, significantly exceeding the national median of $2,690. Property taxes in Tewksbury 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 Tewksbury'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 Tewksbury 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
Tewksbury, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$7,406
$6,872
Ownwell’s Tewksbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tewksbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tewksbury 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 Tewksbury, Massachusetts
Property taxes in Tewksbury, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tewksbury is 1.34%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Tewksbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tewksbury 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 Tewksbury's effective property tax rate to other areas in Middlesex County and the national median. For comparison, the zip code 01876 has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Tewksbury 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 Tewksbury Tax Rate
1.34%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tewksbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01876 | 1.34% | 1.34% | 1.34% | 1.34% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Tewksbury, Massachusetts
In Tewksbury, 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 Tewksbury, 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 Tewksbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 01876, with a median tax bill of $7,399.
Property Tax Assessment Values Across Tewksbury, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Tewksbury Assessed Value
$552,650
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 Tewksbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01876 | $404,600 | $475,375 | $552,650 | $648,225 | $741,430 |
Source: Ownwell
Property Tax Bills Across Tewksbury, Massachusetts
In Tewksbury, 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 Tewksbury is $552,650. Property taxes are determined by multiplying the assessed value by the local tax rate, which can vary annually based on budget requirements and municipal needs. Several factors influence the assessed value, including the property's size, age, location, and condition. Homeowners in Tewksbury can expect a range of tax bills. For instance, the 25th percentile tax bill is $6,364, while the 75th percentile reaches $8,676. The 90th percentile tax bill can go up to $9,924. The highest median tax bill in the area is $7,399, which is consistent across the zip code 01876. These tax bills significantly impact homeowners, as they must budget for these expenses annually. Compared to the national median property tax rate of 0.99%, Tewksbury's property taxes can be relatively high, reflecting the area's property values and municipal funding needs.
Average Tewksbury Tax Bill
$7,399
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Tewksbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01876 | $5,418 | $6,364 | $7,399 | $8,676 | $9,924 |
Source: Ownwell