Winchester, Massachusetts Property Taxes
The median property tax rate in Winchester, MA is 1.13%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Winchester at $1,270,400, the typical annual property tax bill reaches $14,394, significantly exceeding the national median of $2,690. Property taxes in Winchester 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 Winchester'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 Winchester 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
Winchester, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$14,356
Ownwell’s Winchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winchester 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 Winchester, Massachusetts
Property taxes in Winchester, Massachusetts, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Winchester is 1.13%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Winchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winchester 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 Winchester's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01890 has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Winchester 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 Winchester Tax Rate
1.13%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winchester, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01890 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Winchester, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Winchester, 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 Winchester, 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. The median home price in Winchester is $1,270,400, with a 25th percentile tax bill of $10,750 and a 75th percentile tax bill of $18,295. The highest median tax bill is $14,394 in the 01890 zip code, which also has the lowest median tax bill. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Winchester, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Winchester Assessed Value
$1,270,400
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 Winchester, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01890 | $625,800 | $948,800 | $1,270,400 | $1,614,700 | $2,077,900 |
Source: Ownwell
Property Tax Bills Across Winchester, Massachusetts
In Winchester, Middlesex County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value and applies an assessment ratio. 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 property's location, size, and condition, as well as recent sales of similar properties in the area. Winchester's property tax rate is relatively high compared to the national median property tax rate of 0.99%. Homeowners in Winchester can expect tax bills varying significantly, with the 25th percentile at $10,750 and the 75th percentile at $18,295. The highest median tax bill in the area is $14,394, found in the 01890 zip code. High property taxes can significantly affect homeowners, impacting their monthly mortgage payments and overall housing affordability. Understanding how these taxes are calculated helps homeowners plan and budget effectively.
Average Winchester Tax Bill
$14,394
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Winchester, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01890 | $7,085 | $10,750 | $14,394 | $18,295 | $23,543 |
Source: Ownwell