Marion, Massachusetts Property Taxes
The median property tax rate in Marion, MA is 0.94%, slightly below the state median of 1.23% but close to the national median of 0.99%. With a median home value of $608,100 in Marion, the typical annual property tax bill reaches $5,744, significantly higher than the national median of $2,690. Property taxes in Marion are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Marion'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 Marion 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
Marion, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$5,716
$5,304
Ownwell’s Marion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marion 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 Marion, Massachusetts
Property taxes in Marion, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marion is 1.09%, higher than both the Massachusetts state median of 1.23% and the U.S. national median of 0.99%. Local government entities within Marion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marion 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 Marion's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02738 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Marion provides valuable insights into the varying tax landscape across Plymouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marion Tax Rate
0.94%
Average Plymouth County Tax Rate
1.30%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marion, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02738 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Marion, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Marion, Massachusetts. 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 Plymouth 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 Marion, 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. For example, the median home price in Marion is $608,100, with tax bills ranging from $4,219 at the 25th percentile to $14,519 at the 90th percentile. The zip code with the highest and lowest median tax bill is 02738, both at $5,744. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Marion, Massachusetts
Source: Ownwell
$292,450
$663,075
$1,033,700
Average Marion Assessed Value
$608,100
Average Plymouth County Assessed Value
$476,400
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marion, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02738 | $371,920 | $446,925 | $608,100 | $848,106 | $1,538,030 |
Source: Ownwell
Property Tax Bills Across Marion, Massachusetts
Property tax bills in Marion, located in Plymouth County, MA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value as determined by the local assessor. Several factors influence this assessment, including the property's size, age, location, and condition. The local tax rate is set annually by municipal authorities and can vary based on budgetary needs and public services funding. For homeowners in Marion, this means that property taxes can significantly impact annual expenses. For instance, with a median home price of $608,100, the tax bill can vary widely. At the 25th percentile, homeowners might pay around $4,219, while those at the 75th percentile could see bills as high as $8,006. Even more, at the 90th percentile, tax bills can reach up to $14,519. These figures underscore the importance of understanding how property taxes are calculated and their potential financial implications on homeownership in Marion.
Average Marion Tax Bill
$5,744
Average Plymouth County Tax Bill
$6,149
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Marion, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02738 | $3,511 | $4,219 | $5,744 | $8,006 | $14,519 |
Source: Ownwell