West Tisbury, Massachusetts Property Taxes
The median property tax rate in West Tisbury, MA is 0.43%, considerably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in West Tisbury at $1,409,300, the typical annual property tax bill reaches $6,060, exceeding the national median of $2,690. Property taxes in West Tisbury 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 West Tisbury'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 West Tisbury 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
West Tisbury, 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 West Tisbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Tisbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Tisbury 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 Dukes County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across West Tisbury, Massachusetts
Property taxes in West Tisbury, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Tisbury is 0.43%, which is significantly lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within West Tisbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Tisbury 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 West Tisbury's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02575 zip code has the highest median property tax rate of 0.43%, while the same zip code also has the lowest median tax rate of 0.43%. Understanding how these figures compare with West Tisbury provides valuable insights into the varying tax landscape across Dukes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Tisbury Tax Rate
0.43%
Average Dukes County Tax Rate
0.53%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Tisbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02575 | 0.43% | 0.43% | 0.43% | 0.43% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across West Tisbury, Massachusetts
In West Tisbury, 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 Dukes 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 West Tisbury, 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 in West Tisbury is $1,409,300, with tax bills ranging from $5,796 at the 25th percentile to $7,823 at the 90th percentile. The highest and lowest median tax bills are both found in zip code 02575, at $6,060. By understanding 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 West Tisbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across West Tisbury, Massachusetts
Source: Ownwell
$771,450
$1,142,800
$1,514,150
Average West Tisbury Assessed Value
$1,409,300
Average Dukes County Assessed Value
$1,154,150
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Tisbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02575 | $1,311,220 | $1,348,000 | $1,409,300 | $1,665,550 | $1,819,300 |
Source: Ownwell
Property Tax Bills Across West Tisbury, Massachusetts
In West Tisbury, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Once the assessed value is established, the property tax rate is applied to calculate the annual tax bill. In West Tisbury, the median home price is $1,409,300, which significantly influences the property tax bills in the area. Factors such as property size, location, and improvements made to the property can impact the assessed value. Homeowners in West Tisbury can expect their tax bills to vary, with the 25th percentile at $5,796 and the 75th percentile at $7,162. At the 90th percentile, tax bills can reach up to $7,823. These figures highlight the financial responsibility homeowners face, particularly when compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average West Tisbury Tax Bill
$6,060
Average Dukes County Tax Bill
$5,248
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across West Tisbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02575 | $5,638 | $5,796 | $6,060 | $7,162 | $7,823 |
Source: Ownwell