Lancaster, Massachusetts Property Taxes
The median property tax rate in Lancaster, MA is 1.72%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Lancaster at $408,900, the typical annual property tax bill reaches $7,012, exceeding the national median of $2,690. Property taxes in Lancaster 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 Lancaster'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 Lancaster or another part of Worcester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lancaster, 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 Lancaster Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lancaster with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lancaster to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, simply scroll down for more localized information. Your property’s assessed value is determined by Worcester County for property tax calculations, including any applicable exemptions.
Property Tax Rates Across Lancaster, Massachusetts
Property taxes in Lancaster, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lancaster is 1.72%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Lancaster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lancaster 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 Lancaster's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01523 zip code has the highest median property tax rate of 1.72%, while the 01523 zip code also has the lowest median tax rate of 1.72%. Understanding how these cities compare with Lancaster 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 Lancaster Tax Rate
1.72%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lancaster, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01523 | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Lancaster, Massachusetts
In Lancaster, 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 Lancaster, 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 Lancaster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Lancaster is $408,900, with tax bills ranging from $5,509 at the 25th percentile to $11,521 at the 90th percentile.
Property Tax Assessment Values Across Lancaster, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Lancaster Assessed Value
$408,900
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 Lancaster, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01523 | $245,350 | $322,300 | $408,900 | $553,675 | $672,250 |
Source: Ownwell
Property Tax Bills Across Lancaster, Massachusetts
In Lancaster, 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 Lancaster is $408,900. Homeowners' tax bills can vary significantly due to differences in property values and specific tax rates applied. For instance, the 25th percentile tax bill is $5,509, while the 75th percentile tax bill is $9,499, and the 90th percentile tax bill reaches $11,521. Lancaster's property tax rate is influenced by local budgetary needs and services such as schools, infrastructure, and public safety. This rate is then applied to the assessed value of a property to determine the annual tax bill. Homeowners in Lancaster face a median property tax bill of $7,012, which is notably higher than the national median property tax rate of 0.99%. These factors combined mean that property taxes can have a significant impact on the overall cost of homeownership in Lancaster.
Average Lancaster Tax Bill
$7,012
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Lancaster, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01523 | $4,183 | $5,509 | $7,012 | $9,499 | $11,521 |
Source: Ownwell