Lenox Dale, Massachusetts Property Taxes
The median property tax rate in Lenox Dale, MA is 0.92%, slightly lower than the national median of 0.99% but still significant given the state median of 1.23%. With the median home value in Lenox Dale at $306,900, the typical annual property tax bill reaches $2,811, which is close to the national median of $2,690. Property taxes in Lenox Dale 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 Lenox Dale'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 Lenox Dale 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
Lenox Dale, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$2,823
Ownwell’s Lenox Dale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lenox Dale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lenox Dale 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 Lenox Dale, Massachusetts
Property taxes in Lenox Dale, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lenox Dale is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Lenox Dale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lenox Dale 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 Lenox Dale's effective property tax rate to other areas in Berkshire County and the national median. For comparison, the zip code 01242 has both the highest and lowest median property tax rate of 0.92%. Understanding how these figures compare with Lenox Dale provides valuable insights into the varying tax landscape across Berkshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lenox Dale Tax Rate
0.92%
Average Berkshire County Tax Rate
1.62%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lenox Dale, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01242 | 0.92% | 0.92% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Lenox Dale, Massachusetts
In Lenox Dale, 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 Berkshire 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 Lenox Dale, 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. The median home price in Lenox Dale is $306,900, with tax bills ranging from $2,384 at the 25th percentile to $4,303 at the 90th percentile. The zip code 01242 has both the highest and lowest median tax bill at $2,811. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lenox Dale, Massachusetts
Source: Ownwell
$84,400
$502,600
$920,800
Average Lenox Dale Assessed Value
$306,900
Average Berkshire County Assessed Value
$256,200
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lenox Dale, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01242 | $219,480 | $260,250 | $306,900 | $368,300 | $469,740 |
Source: Ownwell
Property Tax Bills Across Lenox Dale, Massachusetts
In Lenox Dale, located in Berkshire 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 Lenox Dale is $306,900. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate. Factors such as property size, location, and home improvements can influence the assessed value. For homeowners in Lenox Dale, the property tax bill can vary significantly. At the 25th percentile, the tax bill is $2,384, while at the 75th percentile, it rises to $3,374. For those at the 90th percentile, the tax bill can reach up to $4,303. Comparatively, the national median property tax rate is 0.99%, making Lenox Dale's rates relatively moderate. These taxes fund essential public services, including schools and infrastructure, directly impacting the quality of life for residents. Therefore, understanding how these bills are calculated can help homeowners manage their finances more effectively.
Average Lenox Dale Tax Bill
$2,811
Average Berkshire County Tax Bill
$3,693
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Lenox Dale, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01242 | $2,010 | $2,384 | $2,811 | $3,374 | $4,303 |
Source: Ownwell