South Weymouth, Massachusetts Property Taxes
The median property tax rate in South Weymouth, MA is 1.04%, slightly higher than the national median of 0.99% but lower than the Massachusetts state median of 1.23%. With a median home value of $490,050, the typical annual property tax bill in South Weymouth reaches $5,122, significantly surpassing the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to exemptions like the primary residence exemption. Understanding South Weymouth'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 South Weymouth or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Weymouth, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$5,097
Ownwell’s SOUTH WEYMOUTH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SOUTH WEYMOUTH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SOUTH WEYMOUTH 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 South Weymouth, Massachusetts
Property taxes in South Weymouth, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Weymouth is 1.04%, which is higher than the U.S. national median of 0.99%. Local government entities within South Weymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Weymouth 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 South Weymouth's effective property tax rate to other areas in Norfolk County and the national median. For comparison, the zip code 02190 has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these figures compare with South Weymouth 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 South Weymouth Tax Rate
1.04%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Weymouth, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02190 | 1.04% | 1.04% | 1.04% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across South Weymouth, Massachusetts
In South Weymouth, 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 local 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 South Weymouth, 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 South Weymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in the area is $5,122, with the highest and lowest median tax bills both being $5,122 in the 02190 zip code.
Property Tax Assessment Values Across South Weymouth, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average South Weymouth Assessed Value
$490,050
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 South Weymouth, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02190 | $254,300 | $396,200 | $490,050 | $597,175 | $747,620 |
Source: Ownwell
Property Tax Bills Across South Weymouth, Massachusetts
In South Weymouth, 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 local assessor's office and reflects the market value of the property. Homeowners in this area face a median property tax bill of $5,122, which is significantly higher than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. For instance, homeowners at the 25th percentile pay around $4,140, while those at the 75th percentile face tax bills of approximately $6,241. At the 90th percentile, the tax bill can reach up to $7,812. These figures illustrate the range of property tax obligations within South Weymouth, affecting homeowners' annual budgets. Higher property taxes can impact affordability and financial planning, making it essential for homeowners to understand how their tax bills are determined and explore potential exemptions or appeals.
Average South Weymouth Tax Bill
$5,122
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across South Weymouth, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02190 | $2,657 | $4,140 | $5,122 | $6,241 | $7,812 |
Source: Ownwell