Waban, Middlesex County, Massachusetts Property Taxes
The median property tax rate in Waban, 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 $1,536,550 in Waban, the typical annual property tax bill reaches $15,642, significantly exceeding the national median of $2,690. Property taxes in Waban are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Waban'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 Waban or another part of Middlesex County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waban, Middlesex County, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$15,673
$14,544
Ownwell’s Waban Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waban with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waban 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 Waban, Middlesex County, Massachusetts
Property taxes in Waban, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waban is 1.02%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Waban set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waban 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 Waban's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02468 zip code has the highest median property tax rate of 1.02%, while the 02468 zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Waban 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 Waban 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 Waban, Middlesex County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02468 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Waban, Middlesex County, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Waban, Massachusetts. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 Waban, 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 Waban helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 02468 has the highest and lowest median tax bill at $15,642, reflecting the area's property values.
Property Tax Assessment Values Across Waban, Middlesex County, Massachusetts
Source: Ownwell
$320,300
$928,425
$1,536,550
Average Waban Assessed Value
$1,536,550
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 Waban, Middlesex County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02468 | $1,002,960 | $1,224,400 | $1,536,550 | $1,964,925 | $2,630,760 |
Source: Ownwell
Property Tax Bills Across Waban, Middlesex County, Massachusetts
Property tax bills in Waban, located in Middlesex County, MA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value. For homeowners in Waban, the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's size, location, and any improvements made. In Waban, the median home price stands at $1,536,550. Property tax bills can vary significantly, with the 25th percentile at $12,464 and the 75th percentile reaching $20,003. The 90th percentile tax bill can go up to $26,782. Compared to the national median property tax rate of 0.99%, homeowners in Waban may experience higher tax bills due to the area's higher property values. This can impact homeowners by increasing their annual expenses, making it essential for them to understand how these taxes are calculated and budget accordingly.
Average Waban Tax Bill
$15,642
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Waban, Middlesex County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02468 | $10,230 | $12,464 | $15,642 | $20,003 | $26,782 |
Source: Ownwell