Monument Beach, Massachusetts Property Taxes
The median property tax rate in Monument Beach, 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 Monument Beach at $422,650, the typical annual property tax bill reaches $3,724, surpassing the national median of $2,690. Property taxes in Monument Beach are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Monument Beach'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 Monument Beach 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
Monument Beach, 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 Monument Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monument Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monument Beach 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 Monument Beach, Massachusetts
Property taxes in Monument Beach, Massachusetts, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Monument Beach is 0.88%, which is lower than the Massachusetts state median and below the U.S. national median of 0.99%. Local government entities in Monument Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monument Beach 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 Monument Beach's effective property tax rate to other areas in Barnstable County and the national median. For comparison, the zip code 02553 has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these areas compare with Monument Beach 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 Monument Beach 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 Monument Beach, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02553 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Monument Beach, Massachusetts
In Monument Beach, 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 Assessor 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 Monument Beach, 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 Monument Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area, both at $3,724, are found in the 02553 zip code.
Property Tax Assessment Values Across Monument Beach, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Monument Beach Assessed Value
$422,650
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 Monument Beach, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02553 | $366,530 | $387,575 | $422,650 | $457,725 | $478,770 |
Source: Ownwell
Property Tax Bills Across Monument Beach, Massachusetts
In Monument Beach, Barnstable County, MA, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value by evaluating various factors, including the property's size, location, and condition. Once the assessed value is established, it is multiplied by the local tax rate to compute the annual tax bill. For instance, with a median home price of $422,650 in Monument Beach, homeowners can expect tax bills to vary. The 25th percentile tax bill stands at $3,415, while the 75th percentile reaches $4,033, and the 90th percentile hits $4,218. These figures illustrate the range of property tax bills within the area, influenced by differences in property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, the tax burden in Monument Beach can be significant. This impacts homeowners by contributing to their overall housing costs, emphasizing the importance of accurate assessments and potential appeals to ensure fair taxation.
Average Monument Beach Tax Bill
$3,724
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Monument Beach, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02553 | $3,230 | $3,415 | $3,724 | $4,033 | $4,218 |
Source: Ownwell