Southwick, Massachusetts Property Taxes
The median property tax rate in Southwick, MA is 1.61%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Southwick at $285,100, the typical annual property tax bill reaches $4,593, exceeding the national median of $2,690. Property taxes in Southwick are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Southwick'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 Southwick 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
Southwick, 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 Southwick Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Southwick. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Southwick to provide a clear estimate of your property tax bill. This valuable insight helps you understand your potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available by scrolling down. Your property's assessed value, determined by Hampden County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Southwick, Massachusetts
Property taxes in Southwick, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Southwick is 1.61%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Southwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southwick 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 Southwick's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01077 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Southwick provides valuable insights into the varying tax landscape across Hampden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Southwick Tax Rate
1.61%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Southwick, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01077 | 1.61% | 1.61% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Southwick, Massachusetts
In Southwick, 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 Hampden 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 Southwick, 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 Southwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Southwick are both $4593, found in the 01077 zip code.
Property Tax Assessment Values Across Southwick, Massachusetts
Source: Ownwell
$59,100
$292,600
$526,100
Average Southwick Assessed Value
$285,100
Average Hampden County Assessed Value
$245,200
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Southwick, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01077 | $183,280 | $224,900 | $285,100 | $393,200 | $519,620 |
Source: Ownwell
Property Tax Bills Across Southwick, Massachusetts
In Southwick, located in Hampden County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor’s office and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. In Southwick, the median home price is $285,100, and property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $3,623, while those in the 75th percentile face bills of approximately $6,334. At the higher end, the 90th percentile sees tax bills reaching $8,371. These property tax rates can significantly impact homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Southwick's property tax bills reflect the local economic conditions and municipal budget needs. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets effectively.
Average Southwick Tax Bill
$4,593
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Southwick, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01077 | $2,953 | $3,623 | $4,593 | $6,334 | $8,371 |
Source: Ownwell