Wellfleet, Massachusetts Property Taxes
The median property tax rate in Wellfleet, MA is 0.70%, considerably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Wellfleet at $746,450, the typical annual property tax bill reaches $5,200, significantly exceeding the national median of $2,690. Property taxes in Wellfleet 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 Wellfleet'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 Wellfleet 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
Wellfleet, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$5,225
Ownwell’s Wellfleet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellfleet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellfleet 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 Wellfleet, Massachusetts
Property taxes in Wellfleet, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellfleet is 0.70%, lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Wellfleet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellfleet 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 Wellfleet's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 02667 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Wellfleet provides valuable insights into the varying tax landscape across Barnstable County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellfleet Tax Rate
0.70%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellfleet, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02667 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Wellfleet, Massachusetts
In Wellfleet, 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 Barnstable 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 Wellfleet, 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 Wellfleet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 02667 has the highest and lowest median tax bill at $5,200.
Property Tax Assessment Values Across Wellfleet, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Wellfleet Assessed Value
$746,450
Average Barnstable County Assessed Value
$556,400
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellfleet, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02667 | $423,480 | $576,300 | $746,450 | $976,275 | $1,386,090 |
Source: Ownwell
Property Tax Bills Across Wellfleet, Massachusetts
In Wellfleet, Barnstable County, MA, property tax bills are calculated based on the assessed value of a home, which reflects its market value. Homeowners in Wellfleet face a median home price of $746,450. The property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and condition can influence the assessed value, thereby affecting the tax bill. Homeowners in Wellfleet experience varied tax bills, with the 25th percentile at $4,030 and the 75th percentile at $6,808. At the higher end, the 90th percentile tax bill reaches $9,638. The median tax bill in the zip code 02667, which encompasses Wellfleet, is $5,200. This figure is above the national median property tax rate of 0.99%, reflecting the higher property values in the area. These property taxes fund essential local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents.
Average Wellfleet Tax Bill
$5,200
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellfleet, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02667 | $2,974 | $4,030 | $5,200 | $6,808 | $9,638 |
Source: Ownwell