Millis, Massachusetts Property Taxes
The median property tax rate in Millis, MA is 1.75%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Millis at $466,900, the typical annual property tax bill reaches $8,166, exceeding the national median of $2,690. Property taxes in Millis 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 Millis'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 Millis 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
Millis, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$8,171
$7,582
Ownwell’s Millis Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Millis. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Millis to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making it easier to plan your finances. For those interested in more granular insights, localized information is available by scrolling down. Your property’s assessed value, determined by the county, is crucial for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Millis, Massachusetts
Property taxes in Millis, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millis is 1.75%, significantly higher than the U.S. national median of 0.99%. Local government entities within Millis set these rates annually, and they can vary across different neighborhoods. Each year, Millis 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 Millis's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 02054 has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these cities compare with Millis 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 Millis Tax Rate
1.75%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millis, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02054 | 1.75% | 1.75% | 1.75% | 1.75% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Millis, Massachusetts
In Millis, 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 Millis, 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 Millis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 02054 has the highest and lowest median tax bill at $8,166.
Property Tax Assessment Values Across Millis, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average Millis Assessed Value
$466,900
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 Millis, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02054 | $292,290 | $386,850 | $466,900 | $590,550 | $747,090 |
Source: Ownwell
Property Tax Bills Across Millis, Massachusetts
In Millis, located in 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 assessor and is meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the size of the property, its age, location, and any improvements made. For example, a median home price in Millis stands at $466,900. Homeowners in Millis can expect their property tax bills to vary, with the 25th percentile at $6,761, the 75th percentile at $10,329, and the 90th percentile reaching $13,066. The highest median tax bill in the area is $8,166, found in the 02054 zip code. These property tax bills can significantly impact homeowners, as they represent a substantial annual expense. Comparing these figures to the national median property tax rate of 0.99%, it's evident that Millis homeowners face relatively high property tax obligations.
Average Millis Tax Bill
$8,166
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Millis, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02054 | $5,105 | $6,761 | $8,166 | $10,329 | $13,066 |
Source: Ownwell