Woburn, Massachusetts Property Taxes
The median property tax rate in Woburn, MA is 0.87%, considerably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Woburn at $568,800, the typical annual property tax bill reaches $4,949, which exceeds the national median of $2,690. Property taxes in Woburn 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 Woburn'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 Woburn 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
Woburn, Massachusetts Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$2,460
Ownwell’s Woburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woburn 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 Woburn, Massachusetts
Property taxes in Woburn, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woburn is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Woburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woburn 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 Woburn's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01801 zip code has the highest median property tax rate of 0.87%, while the 01801 zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Woburn 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 Woburn Tax Rate
0.87%
Average Middlesex County Tax Rate
1.22%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woburn, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01801 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Woburn, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Woburn, Massachusetts. 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 Woburn, 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 Woburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Woburn is $568,800, with median tax bills ranging from $4,325 at the 25th percentile to $6,833 at the 90th percentile. The highest and lowest median tax bills are both $4,949 in the 01801 zip code.
Property Tax Assessment Values Across Woburn, Massachusetts
Source: Ownwell
$105,700
$984,600
$1,863,500
Average Woburn Assessed Value
$568,800
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 Woburn, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01801 | $416,400 | $497,100 | $568,800 | $658,400 | $785,410 |
Source: Ownwell
Property Tax Bills Across Woburn, Massachusetts
In Woburn, located in Middlesex County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The city’s property tax rate is aligned with the county's median tax bill, which is $4,949. Homeowners in Woburn see tax bills that vary significantly depending on the value of their property. For instance, the 25th percentile of tax bills is around $4,325, while the 75th percentile reaches up to $5,728, and the 90th percentile can be as high as $6,833. These tax bills are influenced by factors such as the property's assessed value, which is determined by local assessors based on market conditions, property size, and improvements. Compared to the national median property tax rate of 0.99%, Woburn's property taxes reflect the region's higher property values. For homeowners, this means that while property taxes can be a significant annual expense, they also contribute to funding essential local services such as schools, infrastructure, and public safety.
Average Woburn Tax Bill
$4,949
Average Middlesex County Tax Bill
$7,427
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Woburn, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01801 | $3,623 | $4,325 | $4,949 | $5,728 | $6,833 |
Source: Ownwell