Sterling, Massachusetts Property Taxes
The median property tax rate in Sterling, MA is 1.43%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Sterling, the typical annual property tax bill reaches $6,128, exceeding the national median of $2,690. Property taxes in Sterling 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 Sterling'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 Sterling 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
Sterling, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$6,128
Ownwell’s Sterling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sterling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sterling 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 Sterling, Massachusetts
Property taxes in Sterling, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sterling is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Sterling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sterling 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 Sterling's effective property tax rate to other regions and the national median. For comparison, the highest median property tax rate in Worcester County is also 1.43%, found in the 01564 zip code, while the lowest median tax rate is identical at 1.43%. Understanding how these areas compare with Sterling 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 Sterling Tax Rate
1.43%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sterling, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01564 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Sterling, Massachusetts
In Sterling, 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 Sterling, 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. For example, the median home price in Sterling is $428,500, with tax bills ranging from $4,962 at the 25th percentile to $9,039 at the 90th percentile. 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 Sterling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sterling, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Sterling Assessed Value
$428,500
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 Sterling, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01564 | $283,900 | $346,950 | $428,500 | $528,700 | $632,100 |
Source: Ownwell
Property Tax Bills Across Sterling, Massachusetts
In Sterling, Worcester County, MA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor’s office, which evaluates the market value of homes in the area. For homeowners in Sterling, the median home price is $428,500. The tax rate applied to this assessed value determines the annual property tax bill. Factors such as property location, size, and condition can influence the assessed value. Homeowners in Sterling typically see tax bills ranging from $4,962 at the 25th percentile to $7,560 at the 75th percentile, with the 90th percentile reaching up to $9,039. Comparatively, Sterling's property tax rate can be seen as higher than the national median property tax rate of 0.99%. This means that homeowners in Sterling may face higher tax obligations, impacting their annual financial planning. Understanding these factors can help homeowners anticipate their property tax responsibilities and manage their budgets accordingly.
Average Sterling Tax Bill
$6,128
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Sterling, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01564 | $4,060 | $4,962 | $6,128 | $7,560 | $9,039 |
Source: Ownwell