Northborough, Massachusetts Property Taxes
The median property tax rate in Northborough, MA is 1.48%, significantly higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With a median home value of $505,600 in Northborough, the typical annual property tax bill reaches $7,478, far exceeding the national median of $2,690. Property taxes in Northborough are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence exemption. Understanding Northborough's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Northborough 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
Northborough, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$7,483
Ownwell’s Northborough Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Northborough with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Northborough 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 Northborough, Massachusetts
Property taxes in Northborough, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Northborough is 1.48%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Northborough set these rates annually, and they can vary significantly across different neighborhoods. Each year, Northborough 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 Northborough's effective property tax rate to other areas in Worcester County and the national median. For comparison, the 01532 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Northborough 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 Northborough Tax Rate
1.48%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Northborough, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01532 | 1.48% | 1.48% | 1.48% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Northborough, Massachusetts
In Northborough, 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 Northborough, 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 Northborough helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Northborough is 01532, with a median tax bill of $7,478.
Property Tax Assessment Values Across Northborough, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Northborough Assessed Value
$505,600
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 Northborough, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01532 | $345,100 | $410,075 | $505,600 | $650,250 | $818,880 |
Source: Ownwell
Property Tax Bills Across Northborough, Massachusetts
In Northborough, Worcester County, MA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Northborough, the median home price is $505,600, which significantly influences the tax bill. Factors such as property location, size, and condition are considered during the assessment process. Homeowners in Northborough can expect their tax bills to vary, with the 25th percentile at $6,064 and the 75th percentile at $9,617. For those at the 90th percentile, tax bills can reach up to $12,112. The highest and lowest median tax bills are both $7,478, reflecting uniformity within the zip code 01532. Compared to the national median property tax rate of 0.99%, Northborough's property taxes are notably higher, impacting homeowners by requiring a larger portion of their budget for property taxes. This can affect overall affordability and financial planning for residents.
Average Northborough Tax Bill
$7,478
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Northborough, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01532 | $5,104 | $6,064 | $7,478 | $9,617 | $12,112 |
Source: Ownwell