Weymouth, Massachusetts Property Taxes
The median property tax rate in Weymouth, MA is 1.05%, which is significantly higher than the national median of 0.99% but lower than the Massachusetts state median of 1.23%. With a median home value of $479,800 in Weymouth, the typical annual property tax bill reaches approximately $5,014, far exceeding the national median of $2,690. Property taxes in Weymouth are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding 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 Weymouth or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Weymouth, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$5,038
Ownwell’s Weymouth Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and prospective buyers aiming to estimate their annual property taxes in Weymouth. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Weymouth to project your property tax bill. This user-friendly tool provides a clear understanding of potential tax obligations, helping you make informed financial decisions. For those interested in more detailed insights, including neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by Norfolk County, forms the basis for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Weymouth, Massachusetts
Property taxes in 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 Weymouth is 1.05%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Weymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, 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 Weymouth's effective property tax rate to other areas in Norfolk County and the national median. For comparison, the 02190 zip code has the highest median property tax rate of 1.05%, while the 02188 zip code has the lowest median tax rate of 1.04%. Understanding how these localities compare with 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 Weymouth Tax Rate
1.05%
Average Norfolk County Tax Rate
1.18%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weymouth, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02188 | 1.04% | 1.04% | 1.04% | 1.05% | 1.05% |
| 02189 | 1.04% | 1.04% | 1.05% | 1.05% | 1.05% |
| 02190 | 1.04% | 1.04% | 1.05% | 1.05% | 1.05% |
| 02191 | 1.04% | 1.04% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Weymouth, Massachusetts
In 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 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 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 Weymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Weymouth is $6,360 in zip code 02190, while the lowest median tax bill is $4,978 in zip code 02188.
Property Tax Assessment Values Across Weymouth, Massachusetts
Source: Ownwell
$363,800
$1,318,700
$2,273,600
Average Weymouth Assessed Value
$479,800
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 Weymouth, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02188 | $382,490 | $424,900 | $476,450 | $556,300 | $671,510 |
| 02189 | $481,300 | $507,475 | $568,100 | $608,025 | $666,330 |
| 02190 | $549,270 | $564,925 | $608,650 | $669,975 | $729,940 |
| 02191 | $479,420 | $504,000 | $537,500 | $599,600 | $683,840 |
Source: Ownwell
Property Tax Bills Across Weymouth, Massachusetts
Property tax bills in Weymouth, Norfolk County, MA, are determined based on the assessed value of a property and the local tax rate. The median home price in Weymouth is $479,800, and homeowners can expect varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $4,464, while at the 75th percentile, it rises to $5,854. Those in the 90th percentile see tax bills as high as $7,028. The highest median tax bill in Weymouth is $6,360 in the 02190 zip code, whereas the lowest is $4,978 in the 02188 zip code. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and applicable exemptions. This can significantly impact homeowners, as higher assessed values and tax rates lead to larger tax bills. Comparing to the national median property tax rate of 0.99%, Weymouth's rates can be considered relatively high, affecting the overall cost of homeownership in the area.
Average Weymouth Tax Bill
$5,014
Average Norfolk County Tax Bill
$7,156
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Weymouth, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02188 | $3,997 | $4,440 | $4,978 | $5,813 | $7,017 |
| 02189 | $5,029 | $5,303 | $5,936 | $6,354 | $6,963 |
| 02190 | $5,740 | $5,904 | $6,360 | $7,001 | $7,628 |
| 02191 | $5,010 | $5,267 | $5,617 | $6,266 | $7,146 |
Source: Ownwell