East Walpole, Massachusetts Property Taxes
The median property tax rate in East Walpole, MA is 1.39%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in East Walpole at $567,550, the typical annual property tax bill reaches $7,884, exceeding the national median of $2,690. Property taxes in East Walpole 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 East Walpole'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 East Walpole 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
East Walpole, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$7,889
$7,321
Ownwell’s East Walpole Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Walpole with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Walpole 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 East Walpole, Massachusetts
Property taxes in East Walpole, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Walpole is 1.39%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within East Walpole set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Walpole 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 East Walpole's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02032 zip code has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these cities compare with East Walpole 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 East Walpole Tax Rate
1.39%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Walpole, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02032 | 1.39% | 1.39% | 1.39% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across East Walpole, Massachusetts
In East Walpole, 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 East Walpole, 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 East Walpole helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in East Walpole is $567,550, with the median tax bill ranging from $6,822 at the 25th percentile to $13,982 at the 90th percentile. Interestingly, the zip code 02032 has both the highest and lowest median tax bills at $7,884.
Property Tax Assessment Values Across East Walpole, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average East Walpole Assessed Value
$567,550
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 East Walpole, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02032 | $436,350 | $491,725 | $567,550 | $770,325 | $1,006,550 |
Source: Ownwell
Property Tax Bills Across East Walpole, Massachusetts
In East Walpole, property tax bills are determined based on the assessed value of a home, which is calculated by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For East Walpole, located in Norfolk County, the median home price is $567,550. Homeowners in East Walpole can expect their property tax bills to vary significantly. The tax bill at the 25th percentile is $6,822, while at the 75th percentile, it reaches $10,706. For those at the 90th percentile, the tax bill can be as high as $13,982. This variation is influenced by factors such as home size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Norfolk County's rates result in substantial tax bills, impacting homeowners' annual budgets. The highest and lowest median tax bills in the area are both $7,884, reflecting the uniformity in tax assessments within the specific zip code 02032.
Average East Walpole Tax Bill
$7,884
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across East Walpole, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02032 | $6,057 | $6,822 | $7,884 | $10,706 | $13,982 |
Source: Ownwell