02482 Property Tax Rate

Property owners in ZIP code 02482 (Wellesley, Massachusetts) pay a median of $10,001/year in property taxes on homes valued at $1,255,200. This translates to an effective tax rate of 0.80%, which is 29% below the Massachusetts state average of 1.13%.

The monthly property tax burden for a median-valued home in 02482 is approximately $833, which factors into escrow payments on mortgages. This ZIP code is located within Norfolk County. This is $4,269 more than the Massachusetts average of $5,732/year.

Compared to similar ZIP codes in Massachusetts, 02482 has lower property taxes. ZIP codes with similar effective rates include 02675 (0.80%) and 02464 (0.80%).

In Wellesley, property taxes represent approximately 4.2% of the median household income of $240,069, providing context for the relative tax burden on homeowners in this area.

Massachusetts Chapter 59 exemptions for seniors (65+), veterans, and surviving spouses can reduce your assessed value by $800–$2,500 on Norfolk County owner-occupied residences, depending on municipal amounts. Submit your exemption application to the Norfolk County Assessor by April 1 annually to claim relief; you must own and occupy the property by that date. Norfolk County Assessor's office will process your application with proof of residency and eligibility—apply immediately after closing to ensure you're positioned for the April 1 deadline.