East Otis, Massachusetts Property Taxes
The median property tax rate in East Otis, MA is 0.66%, considerably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in East Otis at $437,000, the typical annual property tax bill reaches $2,893, slightly exceeding the national median of $2,690. Property taxes in East Otis 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 Otis'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 Otis 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 Otis, 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 East Otis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Otis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Otis 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 East Otis, Massachusetts
Property taxes in East Otis, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Otis is 0.66%, lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within East Otis set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Otis 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 Otis's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01029 zip code has the highest median property tax rate of 0.66%, while the 01029 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with East Otis provides valuable insights into the varying tax landscape across Berkshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Otis Tax Rate
0.66%
Average Berkshire County Tax Rate
1.62%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Otis, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01029 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across East Otis, Massachusetts
In East Otis, 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 Berkshire 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 Otis, 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 Otis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in East Otis are both $2,893, found in zip code 01029.
Property Tax Assessment Values Across East Otis, Massachusetts
Source: Ownwell
$84,400
$502,600
$920,800
Average East Otis Assessed Value
$437,000
Average Berkshire County Assessed Value
$256,200
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Otis, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01029 | $151,060 | $247,600 | $437,000 | $662,750 | $829,920 |
Source: Ownwell
Property Tax Bills Across East Otis, Massachusetts
In East Otis, located in Berkshire County, MA, 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. Homeowners in East Otis see a range of tax bills, with the 25th percentile at $1,639 and the 75th percentile reaching $4,388. For those at the 90th percentile, tax bills can be as high as $5,494. The median home price in East Otis is $437,000, and the highest median tax bill recorded in the area is $2,893, which matches the lowest median tax bill, indicating a consistent rate within the zip code 01029. These property taxes fund essential local services, including schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Compared to the national median property tax rate of 0.99%, East Otis homeowners experience a tax rate that aligns closely with national averages, ensuring fair contributions to community development.
Average East Otis Tax Bill
$2,893
Average Berkshire County Tax Bill
$3,693
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across East Otis, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01029 | $1,000 | $1,639 | $2,893 | $4,388 | $5,494 |
Source: Ownwell