01843 Property Tax Rate

Property owners in ZIP code 01843 (Lawrence, Massachusetts) pay a median of $3,397/year in property taxes on homes valued at $393,700. This translates to an effective tax rate of 0.86%, which is 24% below the Massachusetts state average of 1.13%.

The monthly property tax burden for a median-valued home in 01843 is approximately $283, which factors into escrow payments on mortgages. This ZIP code is located within Essex County. This is $2,335 less than the Massachusetts average of $5,732/year.

Compared to similar ZIP codes in Massachusetts, 01843 has higher property taxes. ZIP codes with similar effective rates include 02461 (0.87%) and 02466 (0.86%).

In Lawrence, property taxes represent approximately 4.7% of the median household income of $72,163, providing context for the relative tax burden on homeowners in this area.

Massachusetts Chapter 59 exemptions for seniors (65+), veterans, and surviving spouses reduce assessed value by $800–$3,000 in Essex County, offering substantial relief at effective rates above 1.2%. File your exemption claim with the Essex County Assessor by April 1 annually if you own and occupy your primary residence by that date. Essex County Assessor will require proof of residency, age/military service, and income—apply before April 1 following your purchase to secure the exemption on your next tax cycle.