Millers Falls, Massachusetts Property Taxes
The median property tax rate in Millers Falls, MA is 1.57%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Millers Falls at $228,800, the typical annual property tax bill reaches $3,568, exceeding the national median of $2,690. Property taxes in Millers Falls 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 Millers Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Millers Falls 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
Millers Falls, 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 Millers Falls Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Millers Falls using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millers Falls to provide an accurate estimate of your property tax bill. This invaluable tool helps you understand potential tax liabilities. For those interested in more granular insights, you can explore trends at a neighborhood level by scrolling down for localized information. Your property’s assessed value, determined by Franklin County, is used for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Millers Falls, Massachusetts
Property taxes in Millers Falls, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millers Falls is 1.57%, significantly higher than the U.S. national median of 0.99%. Local government entities within Millers Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millers Falls 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 Millers Falls' effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01349 zip code has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these cities compare with Millers Falls provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millers Falls Tax Rate
1.57%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millers Falls, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01349 | 1.56% | 1.56% | 1.57% | 1.57% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Millers Falls, Massachusetts
In Millers Falls, 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 Franklin 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 Millers Falls, 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 Millers Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,568 in zip code 01349, which is also the lowest median tax bill.
Property Tax Assessment Values Across Millers Falls, Massachusetts
Source: Ownwell
$41,900
$262,550
$483,200
Average Millers Falls Assessed Value
$228,800
Average Franklin County Assessed Value
$252,600
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millers Falls, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01349 | $168,000 | $198,850 | $228,800 | $266,600 | $346,760 |
Source: Ownwell
Property Tax Bills Across Millers Falls, Massachusetts
In Millers Falls, MA, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $228,800, homeowners can expect to pay a tax bill that varies significantly. At the 25th percentile, the tax bill is around $3,124, while at the 75th percentile, it rises to approximately $4,127. For those at the 90th percentile, the tax bill can reach up to $5,161. These property tax rates in Millers Falls are notably higher than the national median property tax rate of 0.99%. This higher tax burden can impact homeowners by increasing their overall housing costs, which may influence decisions on home purchases and investments. However, the quality of local services funded by these taxes, such as schools and infrastructure, can also enhance the community's appeal and property values.
Average Millers Falls Tax Bill
$3,568
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Millers Falls, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01349 | $2,659 | $3,124 | $3,568 | $4,127 | $5,161 |
Source: Ownwell