Millbury, Massachusetts Property Taxes
The median property tax rate in Millbury, MA is 1.45%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Millbury, the typical annual property tax bill reaches $4,865, exceeding the national median of $2,690. Property taxes in Millbury 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 Millbury'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 Millbury 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
Millbury, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$4,882
Ownwell’s Millbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millbury 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 Millbury, Massachusetts
Property taxes in Millbury, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millbury is 1.45%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Millbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millbury 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 Millbury's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01527 zip code has the highest median property tax rate of 1.45%, while the 01527 zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with Millbury 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 Millbury Tax Rate
1.45%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01527 | 1.44% | 1.44% | 1.45% | 1.45% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Millbury, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Millbury. The market value reflects 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 Worcester County 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 Millbury, 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 Millbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Millbury is $336,700, with the median property tax bill at $4,865 in zip code 01527.
Property Tax Assessment Values Across Millbury, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Millbury Assessed Value
$336,700
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 Millbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01527 | $247,700 | $281,800 | $336,700 | $408,700 | $509,380 |
Source: Ownwell
Property Tax Bills Across Millbury, Massachusetts
In Millbury, Worcester County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local tax assessor and reflects the market value of the property. Once the property is assessed, the tax rate is applied to calculate the annual tax bill. For instance, with a median home price of $336,700, homeowners can expect to pay a significant amount in property taxes. The tax bill varies, with the 25th percentile at $4,072 and the 75th percentile at $5,906, indicating a range based on property values and other factors. The 90th percentile tax bill can go up to $7,361, reflecting the higher end of the spectrum. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the rates in Millbury can be relatively high, impacting homeowners' annual expenses significantly.
Average Millbury Tax Bill
$4,865
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Millbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01527 | $3,579 | $4,072 | $4,865 | $5,906 | $7,361 |
Source: Ownwell