New Braintree, Worcester County, Massachusetts Property Taxes
The median property tax rate in New Braintree, MA is 1.47%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in New Braintree at $343,200, the typical annual property tax bill reaches $5,038, exceeding the national median of $2,690. Property taxes in New Braintree are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Braintree'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 New Braintree 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
New Braintree, Worcester County, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$5,045
$4,682
Ownwell’s New Braintree Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Braintree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Braintree 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 New Braintree, Worcester County, Massachusetts
Property taxes in New Braintree, Massachusetts, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in New Braintree is 1.47%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within New Braintree set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Braintree 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 New Braintree's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01531 has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these figures compare with New Braintree 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.
Property Tax Rates Across New Braintree, Worcester County, Massachusetts
Source: Ownwell
0.98%
1.39%
1.81%
Average New Braintree Tax Rate
1.47%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Braintree, Worcester County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01531 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across New Braintree, Worcester County, Massachusetts
In New Braintree, 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 New Braintree, 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 New Braintree helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $5038, found in the 01531 zip code.
Property Tax Assessment Values Across New Braintree, Worcester County, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average New Braintree Assessed Value
$343,200
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 New Braintree, Worcester County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01531 | $192,040 | $262,000 | $343,200 | $424,025 | $551,070 |
Source: Ownwell
Property Tax Bills Across New Braintree, Worcester County, Massachusetts
In New Braintree, located in Worcester County, MA, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. Homeowners in New Braintree can expect a median home price of $343,200. The local property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the size, location, and condition of the property. In New Braintree, the 25th percentile tax bill is around $3,830, while the 75th percentile tax bill reaches approximately $6,224. For those at the 90th percentile, the tax bill can be as high as $8,090. These figures highlight the range of property tax bills homeowners might encounter, significantly impacting their financial planning and overall cost of homeownership. With a median tax bill of $5,038, New Braintree's property taxes are notably higher than the national median property tax rate of 0.99%.
Property Tax Bills Across New Braintree, Worcester County, Massachusetts
Source: Ownwell
$1,685
$6,716
$11,747
Average New Braintree Tax Bill
$5,038
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across New Braintree, Worcester County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01531 | $2,819 | $3,830 | $5,038 | $6,224 | $8,090 |
Source: Ownwell