Weston, Massachusetts Property Taxes
The median property tax rate in Weston, MA is 1.15%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Weston at $679,000, the typical annual property tax bill reaches $7,775, exceeding the national median of $2,690. Property taxes in Weston 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 Weston'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 Weston 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
Weston, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$7,809
$7,246
Ownwell’s Weston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weston 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 Weston, Massachusetts
Property taxes in Weston, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weston is 1.15%, significantly higher than the U.S. national median of 0.99%. Local government entities within Weston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weston 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 Weston's effective property tax rate to other areas in Norfolk County and the national median. For comparison, the zip code 02493 has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these areas compare with Weston 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 Weston Tax Rate
1.15%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weston, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02493 | 1.15% | 1.15% | 1.15% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Weston, Massachusetts
In Weston, 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 Weston, 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 Weston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 02493 has both the highest and lowest median tax bills, each at $7,775.
Property Tax Assessment Values Across Weston, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average Weston Assessed Value
$679,000
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 Weston, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02493 | $679,000 | $679,000 | $679,000 | $679,000 | $679,000 |
Source: Ownwell
Property Tax Bills Across Weston, Massachusetts
In Weston, located in Norfolk County, MA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of the property. Weston has one of the highest median tax bills in the country, standing at $7,775, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and condition. Local government budgets and funding requirements for public services like schools, infrastructure, and emergency services also play a crucial role. For homeowners, this means that owning property in Weston can come with substantial annual tax obligations. However, these taxes contribute to maintaining the high quality of local services and amenities, which can positively impact property values over time. Understanding these factors is essential for homeowners to anticipate their annual financial commitments accurately.
Average Weston Tax Bill
$7,775
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Weston, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02493 | $7,775 | $7,775 | $7,775 | $7,775 | $7,775 |
Source: Ownwell