Hingham, Massachusetts Property Taxes
The median property tax rate in Hingham, MA is 1.00%, slightly higher than the national median of 0.99% but lower than the Massachusetts state median of 1.23%. With a median home value of $925,600 in Hingham, the typical annual property tax bill reaches $9,256, significantly surpassing the national median of $2,690. Property taxes in Hingham are calculated based on the assessed value, which usually falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hingham'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 Hingham 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
Hingham, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$9,256
Ownwell’s Hingham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hingham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hingham 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 Hingham, Massachusetts
Property taxes in Hingham, Massachusetts, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Hingham is 1.00%, which is slightly above the U.S. national median of 0.99%. Local government entities within Hingham set these rates annually, and they can vary across different neighborhoods. Each year, Hingham 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 Hingham's effective property tax rate to other areas in Plymouth County and the national median. For comparison, the highest median property tax rate in Plymouth County is also 1.00%, found in the 02043 zip code, while the lowest median tax rate is similarly 1.00%, also in the 02043 zip code. Understanding how these areas compare with Hingham 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 Hingham Tax Rate
1.00%
Average Plymouth County Tax Rate
1.30%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hingham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02043 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Hingham, Massachusetts
In Hingham, 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 Hingham, 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. For instance, the highest median tax bill in the zip code 02043 is $9,256, while the lowest is also $9,256. Being aware of these valuation processes in Hingham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hingham, Massachusetts
Source: Ownwell
$292,450
$663,075
$1,033,700
Average Hingham Assessed Value
$925,600
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 Hingham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02043 | $511,300 | $705,275 | $925,600 | $1,244,950 | $1,733,900 |
Source: Ownwell
Property Tax Bills Across Hingham, Massachusetts
In Hingham, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in Hingham, part of Plymouth County, face property tax bills that can vary significantly. The median home price in the area is $925,600, and the property tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners at the 25th percentile pay around $7,053, while those at the 75th percentile see bills closer to $12,450. The 90th percentile experiences even higher bills, reaching up to $17,339. The highest and lowest median tax bills in Hingham both stand at $9,256, reflecting the uniformity in tax rates across the zip code 02043. Compared to the national median property tax rate of 0.99%, Hingham's property tax rates can result in significantly higher annual bills. These taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners.
Average Hingham Tax Bill
$9,256
Average Plymouth County Tax Bill
$6,149
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Hingham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02043 | $5,113 | $7,053 | $9,256 | $12,450 | $17,339 |
Source: Ownwell