Norwood, Norfolk County, Massachusetts Property Taxes

Name: Property Tax Bills Across Norwood, Norfolk County, Massachusetts
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Norwood, MA effective property tax rate: 1.05%, slightly higher than the national median of 1.02%, but lower than the Massachusetts state median of 1.23%.
Median Norwood, MA home value: $610,000
Median annual Norwood, MA tax bill: $6,388, $3,988 higher than the national median property tax bill of $2,400.

How are property taxes in Norfolk calculated?

Property taxes in Norwood, MA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Norwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Norwood, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Norwood, Norfolk County, Massachusetts Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.05%

Estimate Property Tax Bill

$6,405

$5,944

Ownwell’s Norwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Norwood with just two data points. By entering your property's estimated assessed value, our calculator applies Norwood’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Norfolk County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Norwood, Norfolk County, Massachusetts

Local government entities are responsible for setting property tax rates, which can vary widely within Massachusetts. This variability is due to each county's annual budgetary needs to provide essential services. By dividing the required budget by the total assessed value of all taxable property within the county, the property tax rate is determined. While the process involves votes and regulations, this is the essence of how tax rates are established annually.

In Norwood, located in Norfolk County, the effective property tax rate stands at 1.05%. This rate is slightly above the national median of 1.02%, reflecting the local government's specific financial requirements. When compared to other cities in Massachusetts, Norwood's tax rate aligns with the state's median, showcasing a consistent approach to property taxation within the region.

Understanding these rates is crucial for property owners, as they provide insight into potential tax liabilities and the financial commitments required to support local services. By staying informed, property owners can better navigate their financial responsibilities and make informed decisions regarding property investments.

Property Tax Rates Across Norwood, Norfolk County, Massachusetts

Source: Ownwell

0.98%

1.42%

1.86%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Norwood Tax Rate

1.05%

Median Effective Norfolk County Tax Rate

1.18%

Median Effective Massachusetts Tax Rate

1.23%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Norwood, Norfolk County, Massachusetts

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
02062	1.05%	1.05%	1.05%	1.05%	1.05%

Source: Ownwell

Property Tax Assessment Values Across Norwood, Norfolk County, Massachusetts

When examining property taxes in Norwood, Massachusetts, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Norfolk County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Norfolk County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Norwood.

For example, the median home price in Norwood is $610,000, with tax bills ranging significantly across the county. Zip code 02062 has the highest median home price at $610,000.

Property Tax Assessment Values Across Norwood, Norfolk County, Massachusetts

Source: Ownwell

$363,800

$896,900

$1,430,000

Median Norwood Market Value

$610,000

Median Norfolk County Market Value

$592,100

Median Massachusetts Market Value

$492,600

Median United States Market Value

$235,294

Property Tax Assessment Values Across Norwood, Norfolk County, Massachusetts

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
02062	$435,430	$532,200	$610,000	$701,800	$827,880

Source: Ownwell

Property Tax Bills Across Norwood, Norfolk County, Massachusetts

In Norwood, Norfolk County, MA, property tax bills are calculated based on the assessed value of a home, which is determined by local authorities. The tax rate is then applied to this assessed value to calculate the annual tax bill. With a median home price of $610,000, homeowners in Norwood often face property tax bills that significantly exceed the national median of $2,400. In fact, the median tax bill in Norwood is $6,388, which is considerably higher than the national average. Factors such as location, property size, and market conditions impact the assessed value and, consequently, the tax bill. This can place a financial burden on homeowners, especially those whose tax bills fall into the higher percentiles, such as the 90th percentile at $8,668. Ownwell can assist homeowners by reviewing their property assessments and identifying potential errors or opportunities for exemptions. By appealing these assessments, Ownwell helps clients reduce their tax bills, ensuring they pay only their fair share.

Property Tax Bills Across Norwood, Norfolk County, Massachusetts

Source: Ownwell

$4,693

$10,534

$16,374

Median Norwood Tax Bill

$6,388

Median Norfolk County Tax Bill

$7,156

Median Massachusetts Tax Bill

$5,844

Median United States Tax Bill

$2,400

Property Tax Bills Across Norwood, Norfolk County, Massachusetts

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
02062	$4,562	$5,573	$6,388	$7,349	$8,668

Source: Ownwell