Braintree, Massachusetts Property Taxes
The median property tax rate in Braintree, MA is 0.98%, slightly below the state median of 1.23% but close to the national median of 0.99%. With the median home value in Braintree at $561,050, the typical annual property tax bill reaches $5,475, significantly higher than the national median of $2,690. Property taxes in Braintree are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Braintree'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 Braintree 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
Braintree, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$5,498
$5,102
Ownwell’s Braintree Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Braintree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Braintree 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 Braintree, Massachusetts
Property taxes in Braintree, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Braintree is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within Braintree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Braintree 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 Braintree's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 02184 has the highest median property tax rate of 0.98%, while the same zip code also has the lowest median tax rate of 0.98%. Understanding how these cities compare with Braintree provides valuable insights into the varying tax landscape across Norfolk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Braintree Tax Rate
0.98%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Braintree, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02184 | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Braintree, Massachusetts
In Braintree, 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 Norfolk 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 Braintree, 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 Braintree helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Braintree are both $5,475, specifically in the 02184 zip code.
Property Tax Assessment Values Across Braintree, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average Braintree Assessed Value
$561,050
Average Norfolk County Assessed Value
$592,100
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Braintree, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02184 | $386,600 | $482,000 | $561,050 | $662,400 | $791,000 |
Source: Ownwell
Property Tax Bills Across Braintree, Massachusetts
In Braintree, Norfolk 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 Braintree is $561,050. The property tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including the property's location, size, age, and condition. Homeowners in Braintree can expect to pay a median property tax bill that closely aligns with the highest and lowest median tax bills recorded in the area, both at $5,475. For a more detailed perspective, the 25th percentile tax bill is $4,704, while the 75th percentile tax bill reaches $6,465. Those in the 90th percentile face a tax bill of $7,720. Comparatively, the national median property tax rate is 0.99%, making Braintree's property tax bills relatively higher. This impacts homeowners by contributing to the overall cost of homeownership, which can influence decisions on buying, selling, or maintaining property in the area.
Average Braintree Tax Bill
$5,475
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Braintree, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02184 | $3,773 | $4,704 | $5,475 | $6,465 | $7,720 |
Source: Ownwell