Shrewsbury, Massachusetts Property Taxes
The median property tax rate in Shrewsbury, MA is 1.31%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Shrewsbury at $509,700, the typical annual property tax bill reaches $6,689, exceeding the national median of $2,690. Property taxes in Shrewsbury 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 Shrewsbury'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 Shrewsbury 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
Shrewsbury, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$6,677
$6,196
Ownwell’s Shrewsbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shrewsbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shrewsbury 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 Shrewsbury, Massachusetts
Property taxes in Shrewsbury, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shrewsbury is 1.31%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Shrewsbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shrewsbury 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 Shrewsbury's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01545 zip code has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Shrewsbury 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 Shrewsbury Tax Rate
1.31%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shrewsbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01545 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Shrewsbury, Massachusetts
In Shrewsbury, Massachusetts, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Shrewsbury, 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. Shrewsbury’s median home price is $509,700, with tax bills ranging from $5,173 at the 25th percentile to $11,219 at the 90th percentile. The zip code 01545 has the highest median tax bill of $6,689. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and find opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Shrewsbury, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Shrewsbury Assessed Value
$509,700
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 Shrewsbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01545 | $320,260 | $394,300 | $509,700 | $684,800 | $855,100 |
Source: Ownwell
Property Tax Bills Across Shrewsbury, Massachusetts
In Shrewsbury, 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 town's assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property size, location, and recent sales in the area influence the assessed value. Homeowners in Shrewsbury can expect varying tax bills. For instance, the 25th percentile tax bill is approximately $5,173, while those in the 75th percentile see bills around $8,985. The highest median tax bill reported in the area is $6,689. These figures demonstrate how property taxes can significantly impact household budgets, depending on the property's value and the applicable tax rate. Compared to the national median property tax rate of 0.99%, Shrewsbury's property tax rates reflect the town's commitment to funding essential services while balancing the financial burden on homeowners.
Average Shrewsbury Tax Bill
$6,689
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Shrewsbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01545 | $4,202 | $5,173 | $6,689 | $8,985 | $11,219 |
Source: Ownwell