East Templeton, Massachusetts Property Taxes
The median property tax rate in East Templeton, MA is 1.29%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in East Templeton, the typical annual property tax bill reaches $3,687, exceeding the national median of $2,690. Property taxes in East Templeton 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 East Templeton'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 East Templeton 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
East Templeton, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$3,682
Ownwell’s East Templeton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Templeton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Templeton 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 Worcester County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across East Templeton, Massachusetts
Property taxes in East Templeton, Massachusetts, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in East Templeton is 1.29%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within East Templeton set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Templeton 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 East Templeton's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01438 zip code has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with East Templeton provides valuable insights into the varying tax landscape across Worcester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Templeton Tax Rate
1.29%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Templeton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01438 | 1.29% | 1.29% | 1.29% | 1.29% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across East Templeton, Massachusetts
In East Templeton, 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 Worcester 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 East Templeton, 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 East Templeton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in East Templeton is $3,687 in the 01438 zip code, which is also the lowest median tax bill.
Property Tax Assessment Values Across East Templeton, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average East Templeton Assessed Value
$285,400
Average Worcester County Assessed Value
$360,000
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Templeton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01438 | $223,700 | $239,950 | $285,400 | $326,100 | $513,380 |
Source: Ownwell
Property Tax Bills Across East Templeton, Massachusetts
In East Templeton, located in Worcester County, MA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the property's market value. Homeowners in East Templeton can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $3,100, and the 75th percentile tax bill reaching $4,214. For those at the 90th percentile, tax bills can be as high as $6,633. The median home price in the area is $285,400, which serves as a benchmark for these calculations. When compared to the national median property tax rate of 0.99%, East Templeton's tax rates are relatively high, impacting homeowners by contributing to their annual financial obligations. This can influence decisions on homeownership, property investments, and overall financial planning. The highest and lowest median tax bills in the region are both $3,687, indicating a consistent tax environment within the specific zip code 01438.
Average East Templeton Tax Bill
$3,687
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across East Templeton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01438 | $2,890 | $3,100 | $3,687 | $4,214 | $6,633 |
Source: Ownwell