Amherst, Massachusetts Property Taxes
The median property tax rate in Amherst, MA is 2.01%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Amherst at $380,800, the typical annual property tax bill reaches $7,652, exceeding the national median of $2,690. Property taxes in Amherst 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 Amherst'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 Amherst 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
Amherst, 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 Amherst Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Amherst with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Amherst to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is the value assigned by Hampshire County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Amherst, Massachusetts
Property taxes in Amherst, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amherst is 2.01%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Amherst set these rates annually, resulting in variations across different neighborhoods. Each year, Amherst estimates its required budget to maintain services for the upcoming fiscal year and 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 foundation for setting property tax rates. The data below compares Amherst's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the zip code 01002 in Amherst has the highest median property tax rate of 2.01%, while the same zip code also has the lowest median tax rate of 2.01%. Understanding how these figures compare with other regions provides valuable insights into the varying tax landscape across Hampshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amherst Tax Rate
2.01%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amherst, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01002 | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Amherst, Massachusetts
In Amherst, 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 Hampshire 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 Amherst, 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 Amherst is $380,800, with tax bills ranging from $6,016 at the 25th percentile to $12,347 at the 90th percentile. Notably, the highest and lowest median tax bills in the area are both $7,652, found in zip code 01002. 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 Amherst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amherst Assessed Value
$380,800
Average Hampshire County Assessed Value
$310,200
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amherst, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01002 | $204,900 | $299,900 | $380,800 | $487,500 | $614,660 |
Source: Ownwell
Property Tax Bills Across Amherst, Massachusetts
In Amherst, 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. For instance, the median home price in Amherst is $380,800. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property characteristics, location, and any applicable exemptions or abatements. Homeowners in Amherst can expect their tax bills to vary significantly. The 25th percentile tax bill is $6,016, while the 75th percentile reaches $9,791. For those in the 90th percentile, the tax bill can be as high as $12,347. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners should be aware of how these taxes impact their annual expenses and the overall affordability of living in Amherst, where the median tax bill is notably higher than the national median property tax rate of 0.99%.
Average Amherst Tax Bill
$7,652
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Amherst, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01002 | $4,107 | $6,016 | $7,652 | $9,791 | $12,347 |
Source: Ownwell