Bridgewater, Massachusetts Property Taxes
The median property tax rate in Bridgewater, MA is 1.21%, slightly higher than the national median of 0.99% but just below the Massachusetts state median of 1.23%. With a median home value of $515,500 in Bridgewater, the typical annual property tax bill reaches $6,268, significantly exceeding the national median of $2,690. Property taxes in Bridgewater are based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence exemptions. Understanding Bridgewater's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bridgewater or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bridgewater, 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 Bridgewater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bridgewater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bridgewater 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 Bridgewater, Massachusetts
Property taxes in Bridgewater, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgewater is 1.21%, higher than the U.S. national median of 0.99%. Local government entities within Bridgewater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgewater 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 Bridgewater's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02324 zip code has the highest median property tax rate of 1.21%, while the 02324 zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Bridgewater provides valuable insights into the varying tax landscape across Plymouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgewater Tax Rate
1.21%
Average Plymouth County Tax Rate
1.30%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgewater, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02324 | 1.21% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Bridgewater, Massachusetts
In Bridgewater, 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 Plymouth 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 Bridgewater, 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. With a median home price of $515,500, the tax bills in Bridgewater range significantly. For instance, the 25th percentile tax bill is $5,123, while the 75th percentile tax bill is $7,614, and the 90th percentile tax bill reaches up to $8,901. The zip code with the highest median tax bill is 02324, amounting to $6,268. 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 their tax burden.
Property Tax Assessment Values Across Bridgewater, Massachusetts
Source: Ownwell
$292,450
$663,075
$1,033,700
Average Bridgewater Assessed Value
$515,500
Average Plymouth County Assessed Value
$476,400
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgewater, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02324 | $326,800 | $421,200 | $515,500 | $626,100 | $732,700 |
Source: Ownwell
Property Tax Bills Across Bridgewater, Massachusetts
In Bridgewater, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessment considers factors such as the property's size, location, and condition. Once the home’s assessed value is determined, it is multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $515,500, homeowners in Bridgewater can expect varying tax bills depending on their property's specific assessed value and the applicable tax rate. Homeowners in Bridgewater experience a range of property tax bills, with the 25th percentile at $5,123 and the 75th percentile at $7,614. The 90th percentile tax bill can reach up to $8,901. Compared to the national median property tax rate of 0.99%, Bridgewater's property tax bills are significantly higher, reflecting the local real estate market and the community's funding needs. This can impact homeowners by increasing their annual expenses, making it crucial for them to understand how their tax bill is determined and budget accordingly.
Average Bridgewater Tax Bill
$6,268
Average Plymouth County Tax Bill
$6,149
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgewater, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02324 | $4,030 | $5,123 | $6,268 | $7,614 | $8,901 |
Source: Ownwell