Example of Norfolk County Property Tax Calculation
Norfolk County calculates property tax based on the assessed value of a property. The assessed value is determined by a number of factors, including the size of the property and the market value of the property. Once the assessed value has been determined, the county uses a tax rate to calculate the property tax owed.
For example, let's say a property in Norfolk County has an assessed value of $200,000 and the tax rate is 1%. To calculate the property tax owed, you would multiply the assessed value by the tax rate (in decimal form):
$200,000 x 0.01 = $2,000
So, the property owner would owe $2,000 in property taxes for that year.
It's important to note that property tax rates and assessed values can vary depending on the location and specific characteristics of the property. It's always a good idea to consult with a local tax professional or government website for more accurate and specific information.
If you want appeal your property tax assessment - contact your local tax assessor.
Norfolk County Property Tax Rates
The following table lists Norfolk County's Property Tax rates per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $1.15 |
| City of Chesapeake | $1.08 |
| City of Franklin | $0.90 |
| City of Norfolk | $1.19 |
| City of Portsmouth | $1.30 |
| City of Suffolk | $1.06 |
| City of Virginia Beach | $0.99 |
Please note that these rates are subject to change and may vary based on specific assessment factors.
Who sets property tax rates in Norfolk County ?
In Norfolk County, property tax rates are set by the Board of Supervisors. This occurs annually during a public meeting where the board determines the budget for the upcoming fiscal year. The property tax rate is then calculated based on the approved budget and the assessed value of each property in the county. Property owners are typically notified of any changes in their property tax rate through a notice mailed by the county government. It is important to note that property tax rates can vary by locality and can change from year to year based on budget and assessment changes.
Homestead exemptions in Norfolk County ?
Table: Homestead Exemptions and Deductions in Norfolk County, Massachusetts
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Basic Homestead Exemption | Any homeowner | Up to $500,000 | Exemption applies to primary residence only |
| Elderly and Disabled Exemption | Homeowners over 65 or with disabilities | Up to $1,000 | Available in addition to basic exemption |
| Blind Exemption | Blind homeowners | Up to $500 | Available in addition to basic exemption |
| Veteran Exemption | Veterans or their surviving spouse | Up to $400 | May also qualify for basic exemption |
| Surviving Spouse Exemption | Surviving spouse of deceased homeowner | Up to $500,000 | Must apply within 2 years of spouse's death |
| Financial Hardship Exemption | Homeowners facing financial hardship | Up to $500,000 | Must meet certain income and asset requirements |
Notes:
- Homestead exemptions reduce the taxable value of a property for the purposes of calculating property taxes.
- Homeowners must file an application to receive the exemption.
- Additional requirements may apply for each exemption, such as residency or income qualifications.
When is Norfolk County Property Tax due ?
Norfolk County Property Tax Due Date and Payment Methods
Norfolk County property tax is typically due on June 30th each year. It is important for property owners to pay their property taxes on time to avoid late fees and penalties.
There are several payment methods available for Norfolk County property taxes, including:
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Online Payment: Property owners can pay their taxes online using a credit card or e-check through the Norfolk County Treasurer's website.
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Mail: Property owners can mail their tax payment to the Norfolk County Treasurer's office using a check or money order. The address for mailing the payment is provided on the tax bill.
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In-person: Property owners can visit the Norfolk County Treasurer's office to pay their taxes in person using cash, check, or money order.
It is recommended that property owners pay their taxes online or by mail to avoid long wait times at the Treasurer's office. Additionally, property owners should keep a copy of their tax bill and payment confirmation for their records.
In summary, Norfolk County property taxes are typically due on June 30th each year. Property owners can pay their taxes online, by mail, or in-person at the Treasurer's office using various payment methods. It is important to pay on time to avoid late fees and penalties.
If you have more questions - contact your local tax collector.
How is Norfolk County Property Tax penalty calculated ?
Norfolk County applies a penalty to unpaid property taxes after the due date. The penalty is calculated as a percentage of the unpaid tax amount, and it increases over time. Here is an example of how the penalty is calculated:
- Due date: March 31st
- Unpaid tax amount: $2,000
- Penalty rate: 1% per month
- Payment made on May 15th
Calculation:
- March: $0 penalty
- April: $20 penalty (1% of $2,000)
- May: $40 penalty (2% of $2,000)
Total penalty: $60
To avoid penalties, property owners should make sure to pay their taxes on time. If they are unable to do so, they can make arrangements with the county to set up a payment plan.
We recommend contacting the Norfolk County Tax Office or a local tax professional for the most up-to-date and accurate information.