Drury, Massachusetts Property Taxes
The median property tax rate in Drury, MA is 2.06%, significantly higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Drury at $41,900, the typical annual property tax bill reaches $864, which is below the national median of $2,690. Property taxes in Drury 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 Drury'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 Drury 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
Drury, 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 Drury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Drury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Drury 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 Drury, Massachusetts
Property taxes in Drury, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Drury is 1.21%, higher than both the Massachusetts state median of 1.15% and the U.S. national median of 0.99%. Local government entities within Drury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Drury 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 Drury's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01343 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Drury provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Drury Tax Rate
2.06%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Drury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01343 | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Drury, Massachusetts
In Drury, 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 Franklin 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 Drury, 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 Drury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $864, found in the zip code 01343.
Average Drury Assessed Value
$41,900
Average Franklin County Assessed Value
$252,600
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Drury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01343 | $41,900 | $41,900 | $41,900 | $41,900 | $41,900 |
Source: Ownwell
Property Tax Bills Across Drury, Massachusetts
In Drury, property tax bills are calculated based on the assessed value of a home, which is determined by the Franklin County Assessor's Office. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $41,900, the assessed value is used to calculate the tax owed. The property tax rate in Drury plays a crucial role in determining the final tax bill. In this area, the median property tax bill is $864, which is notably higher than the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood developments, and changes in the local economy can influence the assessed value, thereby affecting the tax bill. Homeowners in Drury should be aware that their property tax bills may fluctuate annually based on these factors. Understanding how these elements interact can help homeowners anticipate changes in their tax obligations and plan their finances accordingly. This system ensures that property taxes are fairly distributed based on property values within the community.
Average Drury Tax Bill
$864
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Drury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01343 | $864 | $864 | $864 | $864 | $864 |
Source: Ownwell