Cataumet, Massachusetts Property Taxes
The median property tax rate in Cataumet, MA is 0.88%, which is lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Cataumet at $633,000, the typical annual property tax bill reaches $5,584, significantly higher than the national median of $2,690. Property taxes in Cataumet are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Cataumet'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 Cataumet 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
Cataumet, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$5,570
Ownwell’s Cataumet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cataumet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cataumet 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 Cataumet, Massachusetts
Property taxes in Cataumet, Massachusetts, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Cataumet is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Cataumet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cataumet 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 Cataumet's effective property tax rate to other areas in Barnstable County and the national median. For comparison, the zip code 02534 has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Cataumet provides valuable insights into the varying tax landscape across Barnstable County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cataumet Tax Rate
0.88%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cataumet, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02534 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Cataumet, Massachusetts
In Cataumet, Massachusetts, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is 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 Barnstable 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 Cataumet, 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. 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 Cataumet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 02534, with a median tax bill of $5,584.
Property Tax Assessment Values Across Cataumet, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Cataumet Assessed Value
$633,000
Average Barnstable County Assessed Value
$556,400
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cataumet, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02534 | $387,600 | $456,900 | $633,000 | $1,071,400 | $2,326,480 |
Source: Ownwell
Property Tax Bills Across Cataumet, Massachusetts
In Cataumet, located in Barnstable County, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local tax assessor and reflects the market value of the property. Once the home's value is assessed, the tax rate is applied to this value to calculate the tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in Cataumet, the median home price is $633,000. Property tax bills can vary significantly, with the 25th percentile tax bill at $4,032 and the 75th percentile at $9,439. At the higher end, the 90th percentile tax bill reaches up to $20,496. Comparatively, Barnstable County's median property tax bill stands at $5,584, which is higher than the national median property tax rate of 0.99%. These property taxes directly impact homeowners by influencing their overall housing costs and budget planning.
Average Cataumet Tax Bill
$5,584
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Cataumet, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02534 | $3,448 | $4,032 | $5,584 | $9,439 | $20,496 |
Source: Ownwell