Devens, Massachusetts Property Taxes
The median property tax rate in Devens, MA is 1.36%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Devens at $380,300, the typical annual property tax bill reaches $5,164, exceeding the national median of $2,690. Property taxes in Devens 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 Devens'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 Devens 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
Devens, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$5,172
$4,800
Ownwell’s Devens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Devens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Devens 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 Devens, Massachusetts
Property taxes in Devens, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Devens is 1.36%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Devens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Devens 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 Devens' effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01434 zip code has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Devens provides valuable insights into the varying tax landscape across Worcester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Devens Tax Rate
1.36%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Devens, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01434 | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Devens, Massachusetts
In Devens, 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 Worcester 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 Devens, 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 Devens is $380,300, with tax bills ranging from $3,871 at the 25th percentile to $8,112 at the 90th percentile. The highest and lowest median tax bills both stand at $5,164 in zip code 01434. 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 Devens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Devens Assessed Value
$380,300
Average Worcester County Assessed Value
$360,000
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Devens, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01434 | $138,930 | $285,050 | $380,300 | $509,475 | $597,370 |
Source: Ownwell
Property Tax Bills Across Devens, Massachusetts
In Devens, Worcester County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Devens is $380,300, and homeowners can expect their tax bills to vary significantly within the area. Factors such as the property's location, size, and condition play a crucial role in determining its assessed value. Homeowners in Devens typically see tax bills ranging from the 25th percentile at $3,871 to the 90th percentile at $8,112. The highest and lowest median tax bills in the area are both $5,164, reflecting a consistent tax rate across the region. Compared to the national median property tax rate of 0.99%, Devens homeowners may find their tax obligations higher, emphasizing the importance of understanding local tax assessments. These property taxes fund essential community services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Devens Tax Bill
$5,164
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Devens, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01434 | $1,887 | $3,871 | $5,164 | $6,919 | $8,112 |
Source: Ownwell