In this blog post, we will delve into the residential real estate tax rates in Essex County, focusing on the latest data and the percentage changes from the previous year, 2022.
When considering the purchase of a home, one crucial aspect to weigh is the local property tax rate, as it significantly impacts the overall cost of homeownership.
Residential Rate: $16.34
% Change from 2022: -7.63%
Andover
Residential Rate: $13.66
% Change from 2022: -6.44%
Beverly
Residential Rate: $11.26
% Change from 2022: -7.48%
Residential Rate: $13.84
% Change from 2022: -9.07%
Residential Rate: $11.75
% Change from 2022: -7.19%
Residential Rate: $13.88
% Change from 2022: -11.59%
Residential Rate: $12.98
% Change from 2022: -7.81%
Residential Rate: $10.59
% Change from 2022: -9.72%
Residential Rate: $13.13
% Change from 2022: -9.26%
Residential Rate: $16.34
% Change from 2022: -8.61%
Residential Rate: $11.15
% Change from 2022: -12.34%
Residential Rate: $12.23
% Change from 2022: -4.90%
Lawrence
Residential Rate: $10.16
% Change from 2022: -11.19%
Lynn
Residential Rate: $11.15
% Change from 2022: -10.30%
Lynnfield
Residential Rate: $11.30
% Change from 2022: -5.75%
Manchester-by-the-Sea
Residential Rate: $10.43
% Change from 2022: -1.60%
Residential Rate: $10.00
% Change from 2022: -4.94%
Merrimac
Residential Rate: $14.77
% Change from 2022: -9.61%
Methuen
Residential Rate: $11.70
% Change from 2022: -10.34%
Residential Rate: $12.87
% Change from 2022: -2.87%
Nahant
Residential Rate: $9.09
% Change from 2022: -7.15%
Residential Rate: $8.67
% Change from 2022: -10.89%
Residential Rate: $10.74
% Change from 2022: -10.57%
North Andover
Residential Rate: $12.24
% Change from 2022: -9.53%
Residential Rate: $9.52
% Change from 2022: -5.74%
Residential Rate: $9.43
% Change from 2022: -3.97%
Residential Rate: $13.02
% Change from 2022: -10.94%
Residential Rate: $12.51
% Change from 2022: -5.58%
Residential Rate: $10.80
% Change from 2022: -3.05%
Saugus
Residential Rate: $11.26
% Change from 2022: -6.24%
Swampscott
Residential Rate: $11.74
% Change from 2022: -8.50%
Topsfield
Residential Rate: $15.20
% Change from 2022: -8.71%
Residential Rate: $17.35
% Change from 2022: -11.39%
Residential Rate: $11.03
% Change from 2022: -15.22%
Understanding residential tax rates, which are typically expressed as a rate per $1,000 of assessed property value, is essential for homeowners and prospective buyers. This rate essentially tells you how much you’ll pay in property taxes for every $1,000 of your property’s assessed value.
To calculate your property tax liability, you can multiply the assessed value of your home by the tax rate and then divide it by 1,000.
For example, if your home is assessed at $300,000 and the residential tax rate in your town is $10 per $1,000 of assessed value, your annual property tax bill would be calculated as follows: ($300,000 * $10) / 1,000 = $3,000. This simple formula allows homeowners to estimate their property tax expenses accurately and plan their budgets accordingly.
Connect with a Realtor®
Joe Luciano
Joe Luciano is a dedicated Realtor® with Bentley's out of Newburyport, MA Specializing in Essex County & Nearby. Joe is the owner of the Joe's Homes Website & Brand.
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