Canton, Massachusetts Property Taxes
The median property tax rate in Canton, MA is 1.00%, marginally higher than the national median of 0.99% but lower than the Massachusetts state median of 1.23%. With a median home value of $656,500, the typical annual property tax bill in Canton reaches $6,546, significantly exceeding the national median of $2,690. Property taxes in Canton are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Canton’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Canton or another part of Norfolk County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Canton, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$6,565
$6,092
Ownwell’s Canton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Canton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Canton to estimate your property tax bill. This useful 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 Norfolk County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Canton, Massachusetts
Property taxes in Canton, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canton is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Canton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canton 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. Understanding how Canton compares with other areas in Norfolk County provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Canton Tax Rate
1.00%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02021 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Canton, Massachusetts
In Canton, 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. Assessment notices in Canton 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. Canton homeowners face a median home price of $656,500, with tax bills ranging from $5,006 at the 25th percentile to $11,168 at the 90th percentile. Notably, the zip code 02021 holds both the highest and lowest median tax bill at $6,546. 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 Canton, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average Canton Assessed Value
$656,500
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 Canton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02021 | $395,500 | $501,950 | $656,500 | $854,250 | $1,120,160 |
Source: Ownwell
Property Tax Bills Across Canton, Massachusetts
In Canton, Norfolk 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 town's assessors, who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Canton is $656,500, and the median property tax bill stands at $6,546, significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any improvements made to the home. Homeowners in the 25th percentile can expect a tax bill of around $5,006, while those in the 75th percentile may see bills as high as $8,517. For those in the 90th percentile, property taxes can reach up to $11,168. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Canton Tax Bill
$6,546
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Canton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02021 | $3,943 | $5,006 | $6,546 | $8,517 | $11,168 |
Source: Ownwell