Charlestown, Massachusetts Property Taxes
The median property tax rate in Charlestown, MA is 1.07%, which is higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Charlestown at $803,600, the typical annual property tax bill reaches $8,631, significantly surpassing the national median of $2,690. Property taxes in Charlestown are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Charlestown'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 Charlestown 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
Charlestown, Massachusetts Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$2,460
Ownwell’s Charlestown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charlestown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charlestown 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 Charlestown, Massachusetts
Property taxes in Charlestown, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlestown is 1.07%, notably higher than the U.S. national median of 0.99%. Local government entities within Charlestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlestown 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 Charlestown's effective property tax rate to other areas in Suffolk County and the national median. For comparison, the 02129 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these areas compare with Charlestown provides valuable insights into the varying tax landscape across Suffolk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlestown Tax Rate
1.07%
Average Suffolk County Tax Rate
1.07%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlestown, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02129 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Charlestown, Massachusetts
In Charlestown, 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 Suffolk 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 Charlestown, 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 instance, the median home price in Charlestown is $803,600, with tax bills ranging from $6,302 at the 25th percentile to $16,136 at the 90th percentile. The highest and lowest median tax bills are both $8,631 in the 02129 zip code. 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 Charlestown, Massachusetts
Source: Ownwell
$84,600
$1,690,350
$3,296,100
Average Charlestown Assessed Value
$803,600
Average Suffolk County Assessed Value
$641,300
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlestown, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02129 | $478,770 | $586,800 | $803,600 | $1,109,050 | $1,502,430 |
Source: Ownwell
Property Tax Bills Across Charlestown, Massachusetts
In Charlestown, Suffolk County, MA, property tax bills are determined based on the assessed value of the property and the local tax rate. The assessed value is an estimation of the property's market value, which is periodically updated to reflect changes in the real estate market. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as the property's location, size, and condition play a significant role in determining its assessed value. For homeowners in Charlestown, the median home price is $803,600. The property tax rate in this region results in varying tax bills. For instance, the tax bill at the 25th percentile is $6,302, while at the 75th percentile, it rises to $11,912. At the 90th percentile, homeowners might see tax bills as high as $16,136. The highest and lowest median tax bills in Charlestown are both $8,631, reflecting the uniformity within the zip code 02129. Compared to the national median property tax rate of 0.99%, Charlestown's tax bills can be significantly higher, impacting homeowners' annual expenses.
Average Charlestown Tax Bill
$8,631
Average Suffolk County Tax Bill
$6,836
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlestown, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02129 | $5,142 | $6,302 | $8,631 | $11,912 | $16,136 |
Source: Ownwell