Southfield, Massachusetts Property Taxes
The median property tax rate in Southfield, MA is 0.84%, which is lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With a median home value of $344,800 in Southfield, the typical annual property tax bill amounts to $3,144, surpassing the national median of $2,690. Property taxes in Southfield are calculated based on the assessed value, which is often below market value due to exemptions such as those for primary residences and agricultural properties. Understanding Southfield’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 Southfield or another part of Berkshire County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Southfield, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$2,896
Ownwell’s Southfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Southfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Southfield 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 Southfield, Massachusetts
Property taxes in Southfield, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Southfield is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Southfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southfield 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 Southfield's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01259 zip code has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Southfield provides valuable insights into the varying tax landscape across Berkshire, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Southfield Tax Rate
0.84%
Average Berkshire County Tax Rate
1.62%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Southfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01259 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Southfield, Massachusetts
In Southfield, 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 Southfield, 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. The median home price is $344,800, and the property tax bill can range significantly, with the 25th percentile at $2,128 and the 75th percentile at $4,515. Notably, the highest and lowest median tax bills are both $3,144 in the 01259 zip code. 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 Southfield, Massachusetts
Source: Ownwell
$84,400
$502,600
$920,800
Average Southfield Assessed Value
$344,800
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 Southfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01259 | $117,350 | $230,275 | $344,800 | $505,775 | $761,990 |
Source: Ownwell
Property Tax Bills Across Southfield, Massachusetts
In Southfield, Berkshire County, MA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of your property. This value is then multiplied by the tax rate set by local government authorities to determine your annual tax bill. For homeowners in Southfield, the median home price stands at $344,800. Property tax bills can vary significantly, with the 25th percentile tax bill at $2,128 and the 75th percentile reaching $4,515. At the 90th percentile, homeowners may face a tax bill as high as $7,176. Comparatively, the national median property tax rate is 0.99%, making Southfield's tax landscape particularly noteworthy. These taxes fund essential local services such as schools, public safety, and infrastructure. Understanding how your property tax bill is calculated can help you anticipate annual costs and manage your budget more effectively.
Average Southfield Tax Bill
$3,144
Average Berkshire County Tax Bill
$3,693
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Southfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01259 | $1,708 | $2,128 | $3,144 | $4,515 | $7,176 |
Source: Ownwell