Cummaquid, Massachusetts Property Taxes
The median property tax rate in Cummaquid, MA is 0.90%, 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 Cummaquid at $815,100, the typical annual property tax bill reaches $7,320, significantly surpassing the national median of $2,690. Property taxes in Cummaquid are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cummaquid'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 Cummaquid or another part of Barnstable County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cummaquid, Massachusetts Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$2,460
Ownwell’s Cummaquid Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cummaquid with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cummaquid 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 Cummaquid, Massachusetts
Property taxes in Cummaquid, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cummaquid is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Cummaquid set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cummaquid 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 Cummaquid's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 02637 has the highest median property tax rate of 0.90%, while the zip code 02637 also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Cummaquid 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 Cummaquid Tax Rate
0.90%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cummaquid, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02637 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Cummaquid, Massachusetts
In Cummaquid, 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 Cummaquid, 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. For instance, the median home price in Cummaquid is $815,100, with tax bills ranging from $6,358 at the 25th percentile to $14,012 at the 90th percentile. Interestingly, the zip code 02637 has both the highest and lowest median tax bills at $7,320. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cummaquid, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Cummaquid Assessed Value
$815,100
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 Cummaquid, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02637 | $659,500 | $708,100 | $815,100 | $1,013,400 | $1,560,300 |
Source: Ownwell
Property Tax Bills Across Cummaquid, Massachusetts
In CUMMAQUID, located in Barnstable County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area stands at $815,100, which is significantly higher than the national median. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions play a crucial role in the assessment process. Homeowners in CUMMAQUID can expect a wide range of tax bills. For instance, those in the 25th percentile pay around $6,358, while those in the 75th percentile face bills of approximately $9,100. The top 10% of homeowners might see tax bills as high as $14,012. This variation can significantly impact household budgets, making it essential for homeowners to understand their property's assessed value and the corresponding tax rate. By staying informed, residents can better plan for these expenses and explore potential exemptions or appeals to manage their tax liabilities.
Average Cummaquid Tax Bill
$7,320
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Cummaquid, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02637 | $5,922 | $6,358 | $7,320 | $9,100 | $14,012 |
Source: Ownwell