Mt Washington, Massachusetts Property Taxes
The median property tax rate in Mt. Washington, MA is 0.56%, significantly lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. Given the median home value in Mt. Washington is $887,800, the typical annual property tax bill amounts to $4,945, which is still higher than the national median of $2,690. Property taxes in Mt. Washington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Mt. Washington'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 Mt. Washington 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
Mt Washington, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$4,972
Ownwell’s MT WASHINGTON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MT WASHINGTON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MT WASHINGTON 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 Mt Washington, Massachusetts
Property taxes in MT WASHINGTON, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MT WASHINGTON is 0.56%, which is lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within MT WASHINGTON set these rates annually, and they can vary significantly across different neighborhoods. Each year, MT WASHINGTON 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 MT WASHINGTON's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01258 zip code has the highest median property tax rate of 0.56%, while the 01258 zip code has the lowest median tax rate of 0.56%. Understanding how these cities compare with MT WASHINGTON 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 Mt Washington Tax Rate
0.56%
Average Berkshire County Tax Rate
1.62%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mt Washington, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01258 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Mt Washington, Massachusetts
In Mt Washington, 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 Mt Washington, 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 Mt Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,945, found in zip code 01258.
Property Tax Assessment Values Across Mt Washington, Massachusetts
Source: Ownwell
$84,400
$502,600
$920,800
Average Mt Washington Assessed Value
$887,800
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 Mt Washington, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01258 | $887,800 | $887,800 | $887,800 | $887,800 | $887,800 |
Source: Ownwell
Property Tax Bills Across Mt Washington, Massachusetts
In Mt. Washington, located in Berkshire County, MA, property tax bills are calculated based on the assessed value of a home. The local government assesses properties to determine their value, which is then multiplied by the tax rate to calculate the annual tax bill. The median home price in Mt. Washington is $887,800, and homeowners typically see a tax bill around $4,945. This figure is consistent across various percentiles, indicating a stable tax rate in the area. Several factors influence the assessed value, including property size, location, and market conditions. These assessments ensure that property taxes are distributed fairly among homeowners. Compared to the national median property tax rate of 0.99%, the tax rate in Mt. Washington results in relatively higher tax bills, reflecting the higher property values in the area. For homeowners, this means that while property taxes can be substantial, they contribute to funding essential local services such as schools, infrastructure, and public safety, enhancing the quality of life in the community.
Average Mt Washington Tax Bill
$4,945
Average Berkshire County Tax Bill
$3,693
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Mt Washington, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01258 | $4,945 | $4,945 | $4,945 | $4,945 | $4,945 |
Source: Ownwell