Williamstown, Massachusetts Property Taxes
The median property tax rate in Williamstown, MA is 1.62%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Williamstown at $334,350, the typical annual property tax bill reaches $5,242, exceeding the national median of $2,690. Property taxes in Williamstown 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 Williamstown'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 Williamstown 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
Williamstown, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$5,416
Ownwell’s Williamstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williamstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamstown 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 Williamstown, Massachusetts
Property taxes in Williamstown, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamstown is 1.62%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Williamstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamstown 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 Williamstown's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01267 zip code has the highest median property tax rate of 1.62%, while the same 01267 zip code also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Williamstown 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 Williamstown Tax Rate
1.62%
Average Berkshire County Tax Rate
1.62%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williamstown, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01267 | 1.62% | 1.62% | 1.62% | 1.62% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Williamstown, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Williamstown, Massachusetts. 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 local 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 Williamstown, 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 Williamstown 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 $5242.00, found in the 01267 zip code.
Property Tax Assessment Values Across Williamstown, Massachusetts
Source: Ownwell
$84,400
$502,600
$920,800
Average Williamstown Assessed Value
$334,350
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 Williamstown, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01267 | $184,000 | $231,900 | $334,350 | $507,175 | $750,340 |
Source: Ownwell
Property Tax Bills Across Williamstown, Massachusetts
In Williamstown, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Berkshire County. The assessed value is determined by the local assessor's office and reflects the estimated market value of the property. Homeowners in Williamstown experience a range of tax bills, with the 25th percentile paying around $3,502 and the 75th percentile facing bills up to $8,109. For those in the 90th percentile, tax bills can reach as high as $12,061. The median home price in Williamstown stands at $334,350, which significantly influences the property tax bill. Compared to the national median property tax rate of 0.99%, Williamstown's tax rates can result in higher-than-average tax bills, impacting homeowners' annual expenses. The highest and lowest median tax bills in Williamstown are both $5,242, indicating a consistent tax rate across different properties. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Williamstown Tax Bill
$5,242
Average Berkshire County Tax Bill
$3,693
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamstown, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01267 | $2,623 | $3,502 | $5,242 | $8,109 | $12,061 |
Source: Ownwell